Friday August 8, 02:32 PM
blinkx proposes bid for MIVA
LONDON (ShareCast) - Video search engine company blinkx has proposed a $1.20 a share cash offer for Nasdaq (NASDAQ: news) -listed MIVA (MIVA
- news) , valuing the online advertising business at $39m.The bid price represents a 54% premium to MIVA's closing price last night of $0.78 and a 36% premium over the average closing price for the past month. "Our recent strong momentum in the business, and our positioning in the area of performance-based advertising which has shown itself to be robust in the current climate, has encouraged us to consider opportunities to accelerate our growth," said blinkx CEO and Founder Suranga. "blinkx and MIVA have complementary businesses that could benefit greatly from blinkx's technology and MIVA's distribution network."
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