Blinkx completes demerger from Autonomy;valuation at top end of price range
Autonomy Corporation plc (AU.L), Cambridge-based global leader in infrastructure software for the enterprise, said the demerger of its consumer business Blinkx plc (BLNX.L) had been completed.
A share placing was made to institutional investors in the UK and Europe at a price set at 45 pence per share. This gives the new company, especially strong in video search technology, a market capitalisation of £125m. The placing price was the top end of the previously announced range and was oversubscribed.
Autonomy’s shares will continue to trade on the London Stock Exchange unaffected by the demerger.
Autonomy CEO Michael Lynch (pictured) said: "We congratulate Blinkx today on their debut as a stand-alone, public company, at the forefront of one of the fastest growing and dynamic segments of the next phase of the Internet. As a non-executive director of Blinkx, I am delighted that I will have the opportunity to assist Blinkx in its business growth which I believe shows many of the same characteristics and potential as Autonomy in its early days."
22nd May 2007
