Tesco has snapped up a majority stake in an online video-on-demand service from a Bath investment fir m.
The supermarket giant has bought an 80 per cent stake in blinkboxfrom Widcombe Crescent-based Eden Ventures and Nordic VenturePartners. Tesco believes the acquisition puts it in a strongposition to compete "in the internet-driven revolution in homeentertainment". The value of the deal has not been disclosed.
Blinkbox has a catalogue of 9,000 movies for customers to streamonto computers, tablets and internet-enabled televisions. It hasabout 2 million users each month.
It offers movies to buy or rent, although some content, includingTV series, is free.
Eden invests in young technology companies and helps them grow.It is currently investing in Bath start-up The Filter, which is alsosupported by musician and digital entrepreneur Peter Gabriel.
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