Advanced Television

Global Crossing acquires Genesis Networks

November 2, 2010

Global Crossing has acquired global video services provider Genesis Networks, an innovator in high-performance, rich-media and video-based solutions serving the world’s major broadcasters, producers and aggregators of specialised programming.  Global Crossing paid aggregate consideration of approximately $27 million, including $15 million in connection with the repayment of existing debt.

Founded in 2001, Genesis Networks is considered an innovator in the broadcast video over IP and satellite solutions market.  Its purpose-built network stretches across 70 cities on five continents and links important international media centres through 225 on-net locations.  By contrast, the Global Crossing network offers access to more than 700 cities around the globe and a strong presence in Latin America, a new market for Genesis Networks.

Categories: Business, M&A, OTT