A Minor Change by Facebook results in a $92 Million Acquisition

Gossip has is that one of the biggest newspaper company in the world is trying to set itself in the Facebook advertising game.
Gannett co., publishers of USA Today and a large number of regional and local newspapers is reported to have aquired BLINQ media for a staggering $9.2million. BLINQ media, is a company responsible for providing facebook its cutting edge breakthroughs in add engagement technologies.
Though nothing has been said officially by both the companies but anonymous sources say that the agreement has already been signed and the deal could be closed by the end of this month. The deal was undertaken less then two weeks after facebook upgradrd their API and BLINQ and two other facebook add companies revamped their offerings to take advantage from the upgrade. The new API makes it easier for the brands to track conversations, which explains why a $3.2 million company would be bought for $9.2 million. This upgraded is expected to boost revenues for BLINQ dramatically.
For Gannett it means it can run cross-platform, cross-marketing ads on its exsisting online properties while at the same time opening a new revenue stream by tapping directly into facebook.
Source: Techcrunch

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