The assets have been acquired on a debt-free basis, in a single, cash transaction. Although undisclosed, this is thought to stand at around £5 million.
On-demand, pay TV content provider blinkbox works across multiple platforms and devices and its technical expertise in the field is expected to complement TalkTalk’s existing TV strategy.
“Since launch, TalkTalk TV has demonstrated its popularity with value-seeking customers to become the UK’s fastest growing TV service,” said Dido Harding, chief executive at TalkTalk.
“We are excited about the opportunity that blinkbox’s platform and technology expertise bring, and which will significantly accelerate the development of our TV platform.”
The integration of TalkTalk’s existing TV business and blinkbox is expected to begin immediately, and the company hopes to start seeing the benefits of the restructure towards the end of 2015.
Adrian Letts, CEO and co-founder at blinkbox, will join TalkTalk as managing director for TV, reporting directly to Tristia Harrison, managing director of the company’s consumer business.
The further acquisition of Tesco’s broadband and fixed-line voice base includes 75,000 and 20,000 customers respectively, and will enable TalkTalk to further scale its nationwide network.
“We are excited about the future of quad-play – fixed phone and broadband, TV and mobile – and this acquisition will help to further drive home our value for money advantage,” Harding added.
