Today I just surprised that I received an email from Jessica McGranahan (SVP, Publisher Strategy & Development of Burst Media) announcing that Burst Media Corporation has been acquired by Blinkx – an internet search engine for video and audio content based in San Francisco.
The deal reportedly has a total value of $30 million. According to Gigaom, Blinkx will pay $4.5 million in cash as part of the deal, with the remainder being paid through the issuance of new shares of stock…. In exchange, Blinkx expects Burst Media revenues of around $33-$34 million.
I hope the acquisition will give a great impact for all Burst’s publishers with the quality of its advertising network. Long live Burst Media.
Here is the email about the Burst acquisition:
Dear Burst Publisher:
I am pleased to announce that Burst Media Corporation was acquired by blinkx PLC (BLNK:L AIM) today. blinkx operates the world’s largest video search engine with over 35 million hours of content and over 32 million searches a day. blinkx is a profitable, publicly traded company with a market cap that exceeds $500 million and a strong cash balance that will allow it to continue to invest and develop its business.
What does this mean for you? Burst Media will continue to operate as a wholly-owned subsidiary of blinkx. We remain committed to maximizing your ad revenue by delivering high quality campaigns from national brand advertisers and to provide exceptional account service.
The products and services you use day in and day out to run your websites will continue to be available. Your contracts, payment terms and payment cycles will not change. The Publisher Account Center will continue to provide the controls and reporting you need, right at your fingertips. Your Account Manager and Publisher Services team will stay in place, and remain fully committed to providing you with the exceptional service you have come to expect from Burst.
The acquisition of Burst by blinkx is an exciting event that will expand our ability to offer you cutting-edge products that feature blinkx’s unique video advertising solutions. These new video opportunities will bring the chance for video content to your site, and give you new ways to monetize your ad inventory. blinkx’s unique, patented technology is not only the world’s largest video search engine, but also underpins AdHoc, the company’s offering that contextually targets video advertising. AdHoc matches ads to the most relevant point-in-time in a relevant video – delivering a better user experience to your sites’ visitors and superior engagement and ROI to satisfied advertisers.
We will keep you informed about all Burst news and new video solutions that will be available to you from the blinkx technology platform.
This is an exciting time for both you and Burst, and I hope you share in our enthusiasm about what the future holds.
Thank you for your continued dedication and support, and if you have any questions or concerns, please do not hesitate to contact me.
SVP, Publisher Strategy & Development
P.S. You can learn more about blinkx at their corporate website, http://www.blinkx.com