JumpTV Buys Online Video Sports Network XOS For $60.25 million


JumpTV, the Canadian online video/TV aggregator which recently raised $100 million in an AIM IPO, has bought a U.S. college sports broadband network for $60.25 million to expand beyond its portfolio of ethnic channels, reports Reuters. It will buy the broadband network business division of Orlando, FL-based XOS Technologies in a deal that also includes the payment of 3 million retention warrants to employees.

The XOS unit it sold develops and and maintains official websites for collegiate and professional sports teams, and streams NCAA games onlineā€¦it says it has more than 150 official and exclusive relationships with U.S. colleges. The broadband unit generated about $2.45 million in revenue in the first five months of 2007, and logged an operating loss of $3.17 million in the same period. XOS will now focus on its other units which develop technology solutions for professional and collegiate sports teams, conferences, leagues and athletic administrators. It raised a $20 million round from Comcast Interactive Capital and others in 2005.

More details in release.

Comments are closed.