Global Media Services, GridNetworks Agree to Merger

Authored by Mark Hefflinger on April 23, 2009 - 8:05am.

New York - Global Media Services, a provider of live and on-demand video streaming services, announced that it has merged with Seattle-based GridNetworks, a provider of HD Web video delivery services.

Financial terms of the transaction were not disclosed.

Founded in 2003, New York-based GMS delivers over 175 million streams per month on behalf of clients including MTV Networks, Fox Sports and Conde Nast Publications.

Current CEO Charles Picasso will lead the combined company.

Founded in 2005, GridNetworks offers Gridcast, a service that helps content owners distribute HD video over the Web to televisions and computers. The company has date raised $9.5 million in financing.

http://www.globalmediaservices.net