Elon Musk, Tesla Motors CEO, tells the Reuters Global Tech Summit that he'll talk to politicians who back local car dealers trying to keep Tesla from selling directly to consumers. Video
Britain's Blinkx flies on Google, Newscorp bid talk
LONDON (Reuters) - Shares of British video search engine firm Blinkx surged 50 percent to a seven-month high on Friday, on talk that Internet giant Google and media conglomerate NewsCorp may bid for the firm.
The shares were up to 36.75 pence at 5:53 a.m. EDT (0953 GMT), their highest level since September, valuing the firm at around 102 million pounds ($199.2 million).
Blinkx, founded in 2004 by Sri Lanka-descended Briton Suranga Chandratillake, floated on London's junior AIM market in May 2007 following a merger with another UK search engine firm, Autonomy.
The speculation may have come in anticipation of a May 24 expiry of a clause which stipulates that $50 million should be paid to Autonomy in the event of a buyout within a year of its initial share sale, IPO filings show.
Blinkx may also be a target because of its technology and its strong consumer focus, said Piper Jaffray analyst Rajeev Bahl.
Talk of a bid "does not sound ridiculous," he said. "If there were to be a bid, the main search engine companies like Google and Yahoo would be sensible bidders. Blinkx have got very intelligent search engine technology and a number of licensees."
Officials at all three companies were not immediately available for comment.
More people visited Blinkx-linked videos by weekly market share than Google's UK service, data compiled by third party reporting agencies like comScore, Hitwise and Quantcast showed in November.
(Reporting by Hsu Chuang Khoo; editing by Rory Channing)
- Tweet this
- Share this
- Digg this