Vivendi opens 'Net
French titan, Softbank back U.S. Web firms
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In July, Vivendi and Softbank, which is Yahoo's main shareholder, set up @viso to help American online companies get rapid entry into the European market. @viso has now inked deals with Buy.com, E-loan, Interliant, MessageMedia and Vstream.
@viso will commit $71 million to the five joint ventures and an additional $43 million over the next nine to 18 months as the companies develop in Europe.
Vivendi vies as Web player
Under chairman Jean-Marie Messier, Vivendi, which is the major shareholder in pay TV group Canal Plus and has 25% of British Sky Broadcasting, has made no secret of its intentions to take a significant position in the Internet business. Vivendi is already the majority shareholder (in partnership with Canal Plus) in AOL France.
@viso has pacted with some of the leading U.S. 'Net brands. E-loan is the leading servicer of mortgages in the States, while Buy.com is the second-largest e-commerce site Stateside.
The other three companies offer key infrastructure services, laying the foundation for future U.S.-based Internet companies entering Europe.
Interliant is a pioneer in providing Web-based applications. MessageMedia offers e-mail and messaging solutions, and Vstream handles online video and audio conferencing for the global business community.
Cutting up pie
Although full details of how @viso's investment will be divided were not made available, it is known that @viso will take a 37% stake in E-Loan Europe BV, worth an estimated $26 million.
Messier is a firm believer that time-to-market issues are going to be some of the critical factors deciding who are the 'Net winners and losers. @viso is providing the U.S. Internet companies with a Paris-based Incubation Center -- a physical operating base and services infrastructure from which to launch into Europe. The company also will help in recruiting Euro-based executives.
