Vertro Inc (VTRO)

[crzydream]

Blinkx Bids approx. $41 Million For Ad Net MIVA

Video search index Blinkx wants to buy pay-per-click ad network MIVA, formerly FindWhat. The London - and San Francisco - based firm has offered $1.20 per share, valuing Miva at $41.13 million, a 54 percent premium on yesterday’s $0.78 close and funded by cash from both companies. Blinkx hopes that the acquisition would allow it to more quickly roll out the technologies it has developed over the last year - most notably its own video advertising program: "AdHoc".

The timing is interesting.
MIVA president and CMO Seb Bishop left the business this week after eight years, with CEO Peter Corrao now also assuming Bishop’s president role.
Its Q2 earnings come on Monday.
MIVA has offices in the US, UK, Germany, Italy, France and Spain.

This proposal lifted MIVA's shares approx. 33% today reaching $1.04/per share at the moment i type this article.