Small caps: Burst Media warms to blinkx interest
Burst Media Corporation was by some distance the best small-cap performer on Friday.
Its shares surged 390 per cent to 24½p after the online advertising group recommended a 25p a share offer from blinkx, the online video search group. Meanwhile, shares in blinkx rose 10.1 per cent to 122p as investors warmed to the deal and news that full year profits would top City forecasts.
“Over time it should allow blinkx to expand the reach of its ad offering,” said Citigroup, “This will become especially exciting when video advertising is rolled out across Burst’s network,” it said. Burst claims to have an audience of over 130m unique users.