Autonomy shareholders will be given Blinkx shares as a special dividend on a one-for-one basis and the shares are expected to be priced in the range of 0.35 to 0.45 pounds ($0.69 to $0.89). Blinkx will also use the occasion to raise 25m pounds ($49.6m) through an issue of new shares.
San Francisco, California-based Blinkx claims to be the world’s largest and most advanced video search engine and aims to capitalize on the growth in demand for video clips made possible by with widespread availability of broadband.
Blinkx was founded in 2004 by Suranga Chandratillake, Autonomy’s former CTO in the US.
