Blog Post

Blinkx Benefits from Rumors, Says It’s Not Being Bought

Shares of Blinkx rose as much as 53 percent today on the London Stock Exchange following speculation it might be bought by Google or News Corp. Blinkx, however, released a statement saying it was “not aware of any external bids or bid-related reason for the [share] movement.”

The stock eventually closed at 31.5 pence, up 26 percent. It had already seen an unusual jump on Thursday following speculation it might list on NASDAQ.

Blinkx has entered just about every online business — search, advertising, software platform and content management — over the past few years but it’s not dominant in any of them. Probably the feature of the company that makes it stand out the most is that it’s public.

Blinkx shares are still down significantly from both their IPO placing price last May of 45 pence and their closing price on the first day of trading, of 63 pence.