San Francisco - Web video search index Blinkx announced on Friday that it has made a $41 million bid to acquire MIVA, the operator of a pay-per-click ad network as well as a network of consumer destination sites and interest-specific toolbars.

The company offered $1.20 a share, a premium of 54% on MIVA's closing share price yesterday.

San Francisco-based Blinkx has worked with MIVA as a customer for a number of years.

"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," said Blinkx founder and CEO Suranga Chandratillake.

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http://www.miva.com