Media and advertising platform Blinkx plc (LON: BLNX) is set to buy Rhythm NewMedia Inc., a mobile video and advertising service, for $65 million.
The deal marks yet another transaction for Blinkx, which has been known to roll up smaller competitors since it was founded in 2004. In 2013, the London company purchased Grab Network Holdings Inc., a video content and syndication platform. In 2011, Blinkx bought online advertising company Burst Media for $30 million in stock along with online advertising network Prime Visibility Media Group for $36 million.
Blinkx provides video search to various content publishers, including AOL Inc. (NYSE: AOL) and Lycos Inc. It has also partnered with more than 1,100 media companies.
With Rhythm, Blinkx gains a mobile-focused video advertising service whose clients include entertainment news websites E! and TMZ. Mountain View, Calif.-based Rhythm generated roughly $19 million in revenue over the course of 2012. By mid-2013, Rhythm had already seen $13.3 million in sales.
Rhythm’s Ujjal Kohli is expected to remain in place as chief executive once the deal is completed.