Video search engine Blinkx has agreed to acquire online advertising company Burst Media, the firms announced today.
Under the terms of the deal, Blinkx will pay Burst $30 million in stock and cash, the company said. In addition, Burst's senior management, including its co-founder and CEO Jarvis Coffin and co-founder David Stein, will stay on in a temporary role to aid in the transition.
Over the last several years, Burst, which provides online video advertising solutions to Web publishers, has been generating sizable revenue. According to Blinkx, Burst generated $37.7 million in revenue last year, up from the $… Read more