UK-based internet media platform blinkx said Tuesday that it has entered into an agreement to buy Grab Media from Grab Network Holdings in an all-cash transaction. No financial terms were disclosed. Grab Media, which is backed by Court Square Ventures, Longworth Venture Partners, SCP Worldwide and SoftBank Capital, is a online video content syndication and advertising platform in Dulles, Virginia.
SAN FRANCISCO, CALIF. — 5 August, 2013 — blinkx, the Internet Media platform powered by CORE that connects consumers with advertisers through professionally generated content online, today entered into an all cash transaction with Grab Network Holdings, Inc., related to its Grab Media property (www.grab-media.com).
Grab Media is a leading 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 monetize these interactions across desktops, tablets, smartphones and connected TVs.”
While the 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).
Founded in 2004, blinkx (LSE AIM: BLNX) is an Internet media platform that connects digital consumers with advertisers through professionally generated content. blinkx pioneered Internet video search using its patented Concept Recognition Engine (CORE) technology that leverages speech, text and image analysis to deeply understand the content and context of videos. This results in improved search relevancy for consumers and a brand safe environment for advertisers. With a rapidly growing index of millions of hours of searchable video derived from over 900 media partnerships, blinkx powers video search on leading online properties including Ask and AOL. blinkx continues to develop innovative approaches to distribute and monetize digital video content across personal computers, smartphones, tablets and connected TV through partnerships with leading brands such as Samsung, Sony and Roku. blinkx is headquartered in San Francisco, California with offices worldwide. For more information please visit www.blinkx.com.