French media group Vivendi has agreed to acquire 80 per cent of video-sharing website Dailymotion from telecommunications company Orange for €217m ($243m).
Orange will retain a 20-per-cent stake in Dailymotion, which is a partner of various sports properties worldwide including Spanish Liga football club Barcelona, the French Football Federation and English Premiership rugby union team Wasps.
German media company ProSiebenSat.1 and Hong Kong telecommunications company PCCW had previously made unsuccessful bids. Vivendi entered exclusive talks with Orange in April.
Vivendi said that the deal would allow Dailymotion to accelerate its growth and continue its international expansion.