Telecom Company Orange In Talks To Acquire 49% Of Dailymotion

Orange, the largest telecommunications company in France, has acquired 49% of Dailymotion. This deal values Dailymotion at $160 million. This deal also allows Orange to gradually increase their equity in Dailymotion to 100% by 2013. The deal is not fully confirmed yet. Another source with BusinessInsider.com is reporting that Dailymotion raised funding from the French government’s sovereign wealth fund Fonds Stratégique d’Investissement (FSI). FSI is major shareholder in Orange.