blinkx, the Internet video search engine, has bought Grab Media property.
Grab Media is an online video content syndication and advertising platform. The specific assets acquired by blinkx in the transaction will enable the company to add incremental audience and augment its relationships with advertisers, publishers and content providers.
“In addition, blinkx plans to hire the existing Grab Media team — a talented, multi-faceted group with extensive experience and relationships in online video content syndication and advertising,” said S. Brian Mukherjee, CEO of blinkx. “This transaction, while modest in size, enables us to meet growing consumer demand for online video, and provides us with an established platform to distribute and monetise these interactions across desktops, tablets, smartphones and connected TVs.”
While the cash transaction will not have a material impact on the revenue or cost base in the near term, it is an important catalyst that should enable blinkx to accelerate the growth of its recently launched syndication efforts, including blinkx VideoAdvantage (BVA).