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SeaChange preparing On Demand Group sale

Just over a week after video-on-demand technology company SeaChange announced that it would be selling its broadcast server and storage business, CEO Raghu Rau said the company will attempt to sell its media services business, including On Demand Group.

Speaking on a conference call announcing SeaChange’s full year results, Rau said,We are…actively engaged in the potential divestiture of our media services business.” He said the unit was not core to the company’s strategy of turning itself into a pure software company.

“Our focus in fiscal 2013 is on the execution of our strategy to transform the company into a pure-play software provider, lowering our overall cost structure, delivering industry leading, next generation solutions and achieving superior financial results,” said CEO Rau. “We recently announced the divestiture of our broadcast servers and storage business and are actively engaged in the potential divesture of other non-core assets that do not fit into our long-term business strategy.”

SeaChange reported full year revenues of $197.7 million (€148), down US$4 million on the corresponding period in 2010.