SAN FRANCISCO, Dec. 12, 2013 /PRNewswire/ -- blinkx, the Internet Media platform that connects audiences with brands through professionally generated content, has closed its previously announced acquisition of Rhythm NewMedia Inc, a leading ultra-premium mobile video technology and advertising platform in the US, for a total consideration of $65 million.
This acquisition fundamentally and instantly extends the blinkx ecosystem to mobile at scale, allowing the company to immediately tap into mobile video, the fastest growing segment in digital advertising. Coupled with blinkx's existing desktop and video expertise, this acquisition extends its leadership in digital video search, discovery, distribution and advertising by adding an entirely new distribution channel and revenue stream.
Commenting on the acquisition, S. Brian Mukherjee, CEO of blinkx, said:
"In Rhythm NewMedia, we see a perfect strategic alignment with our vision to connect consumers with brands through professionally generated content, across any Internet connected device, anywhere in the world. We view the still developing mobile video market as a massive opportunity in the advertising industry and believe mobile is the superior brand advertising platform of the future. Rhythm instantly adds about 74 million unique mobile users per month to blinkx's reach, 200 plus ultra premium applications, a fully transparent ad platform and performance characteristics that are sector leading. As consolidation continues and the industry shifts toward mobile, we believe we are well positioned to emerge as a leader."
As the pioneer in video search technology, blinkx has built a reputation as the smartest way to find highly targeted, relevant rich media on the Web. The company has signed more than 1,100 partners and indexed over 35 million hours of video and audio content to date.
Founded in 2004, blinkx (LSE AIM: BLNX) is an Internet media platform that connects digital consumers with advertisers through professionally generated content. blinkx pioneered Internet video search using its patented COncept Recognition Engine (CORE) technology that leverages speech, text and image analysis to deeply understand the content and context of videos. This results in improved search relevancy for consumers and a brand safe environment for advertisers. With a rapidly growing index of millions of hours of searchable video derived from over 1,100 media partnerships, blinkx powers video search on leading online properties including AOL and Lycos. blinkx continues to develop innovative approaches to distribute and monetize digital video content across personal computers, smartphones, tablets and connected TV through partnerships with leading brands such as Samsung, Sony and Roku. blinkx is headquartered in San Francisco, California with offices worldwide. For more information please visit www.blinkx.com.