Media NewS: Video firm Blinkx buys Burst Media

Technology firm Burst Media Corporation has been snapped up by the US-based video search engine company Blinkx in a deal worth $30 million (£18.5 million).

The deal will enable AIM-listed Blinkx, which has an archive of around 35 million hours' worth of audio, viral and TV content, to tap into Burst's network of publishers to boost the size of its audience.

The wider audience will come as a real boost, as it looks to take advantage of online video advertising becoming the fastest growing segment of online advertising.

Suranga Chandratillake, chief executive of Blinkx, said: "Up until now, the primary barrier to further television advertising budgets moving online has been online video's inability to match the sheer scale of audience that television can deliver."

Jarvis Coffin, chief executive of Burst, also listed on AIM, said: "By combining with Blinkx and its enormous video index, we will be able to substantially enhance our users' experience with high quality, relevant video, and also improve monetisation for our publishers through high value video advertising."