Vivendi has closed the acquisition of an 80% stake in video sharing site Dailymotion from Orange, it announced late on Tuesday.
The French firm confirmed that it paid €217 million for the stake, in line with the terms of the agreement it negotiated in April.
Vivendi said the Dailymotion acquisition is at the core of its digital strategy.
"The integration within Vivendi offers Dailymotion the means to strongly accelerate its growth and continue its international expansion," the firm said.
"It gives the company access to particularly attractive music and audiovisual content and allows for the joint development, together with the Universal Music Group and Canal+ Group teams, of original and distinctive content and formats."
Dailymotion bills itself as the second largest video aggregation and distribution platform in the world, with 2.5 billion video views per month. Market leader YouTube is some way ahead though, with more than 1 billion users and daily views in the billions.
Under the terms of th e deal, Orange retains a 20% stake in Dailymotion.
The future of the business was a hot topic of debate earlier this year, with the likes of PCCW and Axel Springer also linked with it.
