News

blinkx revives MIVA takeover bid

19 November 2008 16:54:00

Video search engine company blinkx has revived plans to acquire US digital media company MIVA.

A cash offer of $0.55 per MIVA share is on the table from blinkx. The terms represent a 108% premium over the closing price of MIVA on 18 November 2008.

The MIVA business has reported a deterioration in its cash position in each of the last four quarters making blinkx anxious to secure a deal as soon as possible.

"A combination of the two companies - fusing blinkx's technology with MIVA's distribution network - presents an exciting and compelling opportunity, and one that would prove mutually beneficial to both companies' shareholders, employees, and customers," a statement from blinx said.

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