Bird & Bird has advised blinkx on its $30m (£18.5m) acquisition of Burst Media, an online advertising services and technology business.
blinkx is based in San Francisco and Cambridge and is the world's largest and most advanced video search engine, having indexed at least 35 million hours of audio, video, viral and TV content, and made it fully searchable and available on demand. This content will now reach Burst’s audience of over 130 million unique users, massively expanding blinkx’s reach into the market.
The acquisition gives blinkx the capability to create personalised, online television for hundreds of millions of users.
Richard Eaton, Partner, Corporate Group, London commented: “We were delighted to advise blinkx on this pivotal acquisition, which will put their incredible technology into the homes of millions of users. This is another example of the cross border transactions in which we specialise: an AIM listed, UK company headquartered in San Francisco, acquired an AIM listed Maryland incorporate company headquartered in Boston. ”
Suranga Chandratillake, CEO of blinkx, commented: "Bird & Bird's advice was invaluable to the deal and we were impressed by Richard and his team's grasp of the commercial significance of the acquisition and what we hoped to achieve for our business."