August 6, 2013 10.08 Europe/London By Julian Clover
Blinkx has acquired online video content syndication and advertising platform Grab Media.
The Internet media platform said it was an all cash transaction, but did not disclose the sums involved. Blinkx hopes it will be able to add incremental audience and augment its relationships with advertisers, publishers and content providers.
“In addition, blinkx plans to hire the existing Grab Media team — a talented, multi-faceted group with extensive experience and relationships in online video content syndication and advertising,” said S. Brian Mukherjee, CEO of Blinkx. “This transaction, while modest in size, enables us to meet growing consumer demand for online video, and provides us with an established platform to distribute and monetize these interactions across desktops, tablets, smartphones and connected TVs.”
Blinkx anticipates the move will improve its syndication offering.