Blinkx To Acquire Burst Media For $30 Million
Video search engine Blinkx said today it is purchasing online advertising company Burst Media for $30 million.
The combination of the two companies will bring Blink’x 35 million hours of online video and TV to Burst’s audience of over 130 million unique users.
Blinkx said it will create video channels for specific audiences that will be matched to Burst’s network of publisher sites. The move will build an online video audience for Burst’s advertisers.
“In just a few years, we have seen online video advertising become the fastest growing segment of online advertising. Up until now, the primary barrier to further television advertising budgets moving online has been online video’s inability to match the sheer scale of audience that television can deliver,” said Suranga Chandratillake, chief Executive of Blinkx.
“By fusing blinkx’s unique patented technology and large video index with Burst’s massive reach, we will have the potential to create personalised, online television that is watched by hundreds of millions of users.”
The majority of Burst’s senior management team will continue with the combined group, with Jarvis Coffin, Co-Founder and CEO of Burst and David Stein, Co-Founder and CTO of Burst remaining in temporary roles to assist transition.
“By combining with blinkx and its enormous video index, we will be able to substantially enhance our users’ experience with high quality, relevant video, and also improve monetisation for our publishers through high value video advertising,” said Jarvis Coffin, Chief Executive of Burst.