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Technology / AI and automation

Autonomy sells remaining stake in Blinkx

Software firm Autonomy, owned by US computer maker HP, has completed the sale of its remaining stake in video search engine firm Blinkx.

The software firm has sold about 45.7 million shares in the video website at a price of 120 pence per share, which brings value of the deal to $84.48m.

The sale was executed through an accelerated offering to institutional investors and run by Goldman Sachs.

HP spokesman Michael Thacker said in statement: "HP is selling its stake in Blinkx as part of our ongoing efforts to refocus the company on our strategic priorities."

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Founded in 2004 in the US by former Autonomy CTO Suranga Chandratillake, Blinkx is based on the application of Autonomy’s Intelligent Data Operating Layer (IDOL) technology.

During early June 2013, Blinkx director, former HP executive and Autonomy founder Mike Lynch had sold a million shares in the video search firm worth a $1.75m, while he still owns about 21 million shares, which would offer him a control of about 6% of the firm.

This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

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