News agency AFP said French video platform company Dailymotion would continue planning for the company growth despite a failed acquisition deal between its parent company Orange and Yahoo Inc. Dailymotion was eyeing for an acquisition of a video startup and an installation of a satellite office in Japan.
The government of France had killed the acquisition deal between Orange and Yahoo after the former decided that it didn't want a foreigner to have a controlling stake in a French company, according to a source who told Techcrunch. The French telecom company had put in USD40 million in Dailymotion for the video platform just to bounce back from the failed acquisition deal.
The opening of a representative office in Japan would be a strategic move for Dailymotion, as it intended to expand in the Asian region and hopefully obtain advertising dollars from the yet untapped market.
On the other hand, acquisition talks with a European startup had been ongoing and would be closing in a month. Dailymotion remained secretive about the deal, but the company was confident that the acquisition would help the company fulfill its growth plans in Europe.
Join the Conversation