Blinkx is acquiring Rhythm NewMedia for $65 million

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Blinkx is an Internet media company that is acquiring Rhythm NewMedia for $65 million in funding. Rhythm NewMedia is a mobile video advertising and technology company that focuses on smartphones and tablets. Some of Rhythm’s investors include QuestMark Partners, Lightspeed Venture Partners, Morgenthaler Ventures, and Rembradt Venture Partners.

“We are delighted to welcome Rhythm, a leading premium mobile video advertising company, to blinkx. In Rhythm, we see a perfect strategic alignment with our vision to connect consumers with brands through professionally generated content, across any Internet connected device, anywhere in the world. This acquisition aligns with our strategy to expand our digital video expertise to the mobile sector at scale. Rhythm brings a talented team with deep domain expertise, technology and products, along with a rapidly growing revenue stream that will add to our organic mobile efforts,” stated S. Brian Mukherjee, CEO of blinkx.

[Source: WSJ]

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