Blinkx said its offer represents a 54% premium above the closing price of MIVA, listed on Nasdaq, of $0.78 (£0.40 on 7 August.
Suranga Chanratillake, founder and chief executive of Blinkx, said: "Our recent strong momentum in the business, and our positioning in the area of performance-based advertising which has shown itself to be robust in the current climate, has encouraged us to consider opportunities to accelerate our growth."
Blinkx has worked with MIVA as both a customer and partner for a number of years.
MIVA owns and operates a portfolio of websites through its MIVA direct division, and runs a third-party ad network via its MIVA media division.
John Reynolds, Media Week, 08 August 2008, 10:52am
Blinkx proposes to buy MIVA
LONDON - Video search outfit Blinkx has made a proposal to buy US-based search outfit MIVA, as it looks to expand its digital offering.
Suranga Chanratillake: "strong momentum:
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