Blinkx PLC (LSE AIM: BLNX) Proposes Merger with MIVA Inc. to Leverage Both Companies in the Online Market
Blinkx PLC is the world's largest and most advanced video search engine. The company has more than 26 million hours of online content, including audio, video, viral and TV content. The company today announced it has issued a letter to the board of directors and CEO of MIVA Inc. (NASDAQ: MIVA), in which Blinkx proposes to acquire the digital media company for $1.20 per share, a 54% premium above MIVA’s 78-cent common stock closing August 7, 2008 and a 36%-premium over MIVA’s average closing price for July. MIVA’s divisions make it an appealing acquisition to Blinkx, which, according to the…