LXB Retail Properties : blinkx to acquire AdKarma

blinkx has agreed to acquire AdKarma, a leading video supply side platform, for an initial consideration of $15m in cash plus an additional $5m in cash or stock at the Company's option, payable on the first anniversary of the transaction. The initial consideration for the acquisition will be funded entirely from the company's existing cash reserves. blinkx says the acquisition is expected to bolster and accelerate the company's position significantly within the programmatic or automated trading segment of the digital video advertising market. AdKarma has consistently demonstrated a strong financial and operational profile. The latest available audited statements indicate: · Gross revenue of $13.3m in calendar year 2013, an increase of 102% over calendar year 2012; · Gross profit of $2.4m in calendar year 2013, an increase of 118% over calendar year 2012; · Income from Operations of $0.6m in calendar year 2013; · Gross assets of $5.3m as at 31 December 2013; and · Estimated calendar year 2014 revenue of at least $20m (unaudited) and Income from Operations of at least $3m (unaudited), based on blinkx accounting policies At 8:17am: (LON:BLNX) Blinkx PLC share price was +0.5p at 25.25p Story provided by StockMarketWire.com