GridNetworks Merges with GMS
Global Media Services, based in New York City, has announced it is merging with Seattle-based GridNetworks, an online video startup. Financial terms were not disclosed. The combined company will provide streaming and media services for personal computers, mobile devices, and TV. GridNetworks, founded in 2005, was backed by Comcast, Cisco, and Panorama Capital. News of the merger was previously reported by the Seattle Times, TechFlash, and BusinessOfVideo.com.