SeeSaw, the online TV portal launched by Arqiva back in February 2010, is to close or be sold off. The company, who is also a major player in the much delayed YouView television venture, has made the decision after deciding that the site no longer fits with its future business plans.

It is no longer accepting paid transactions on the website, and will withdraw the entire portal on 20 June.

Speaking to Broadband TV News, Arqiva said that it still hopes to sell the service: "“As part of an ongoing strategic business review, we have decided to sell or close the SeeSaw online TV service,” it said.

However, having already failed to find an investment partner, it seems unlikely that there will be an eleventh hour bid: “SeeSaw is an excellent service and has provided invaluable insight into the online TV market in the UK," claims the company. "But it no longer fits with the strategic direction in which we are taking Arqiva and requires considerable investment to succeed in an increasingly competitive market. We have tried to find an investment partner, however this has not proved possible."

Arqiva is also looking to sell the technology it acquired to run SeeSaw, which cost approximately £8 million and was originally developed for the first failed attempt to get Project Kangaroo off the ground. However, although it was offered to interested parties abroad, there have so far been no takers for that either.