The Boards of blinkx, the world’s largest video search engine, and Burst Media Corporation, the online advertising services and technology business, have entered into a definitive agreement pursuant to which blinkx will acquire the entire common stock of Burst for an aggregate consideration of $30 million.
The combination of the two companies will bring blinkx’s 35 million hours of online video and TV to Burst’s audience of over 130 million unique users. blinkx will create contextually relevant video channels for Burst’s network of publishers, thereby aggregating an online video audience for advertisers across long tail Internet sites, which will rival the scale of television networks.
Burst’s network of publishing partners reaches over 61 per cent of the US online population. It ranks as the 36th largest US media property and the 30th largest UK media property on the Internet.