Global Crossing Acquires Genesis Networks

New tech to cram more bits in your hertz.

Global Crossing announced this morning it has acquired Genesis Networks, a global provider of video distribution services over IP networks. The deal will expand Global Crossing’s ability to serve more media customers looking to distribute video over its backbone network, as well as vertical markets such as healthcare, government and distance learning, which increasingly rely on high-quality distribution of rich media online.

Genesis has built a fiber network with connections to 70 cities in five continents to deliver high-quality video services over IP instead of satellite. Global Crossing will absorb Genesis Networks’ existing network and combine it with its own, which reaches 700 cities around the world, including Latin America, a new market for Genesis. Through the deal, Global Crossing also has acquired Genesis’ network operation center, which will monitor the entire video network.

Genesis Networks helps a number of international media clients distribute video, including for sporting events such as the Olympics, the World Cup, Grand Slam tennis tournaments and Formula One racing. In that respect, Genesis appears similar to Level 3’s Vyvx offering, which specializes in delivering live events across its fiber backbone.

The acquisition also underscores Global Crossing’s interest in using video distribution as a way to differentiate itself and expand its service offerings outside of its core IP transport business. The company struck a deal last year to provide CDN services with the help of EdgeCast Networks and Limelight Networks.

According to the press release, Global Crossing paid $27 million for Genesis Networks, which included $15 million in connection with the repayment of debt. A Global Crossing spokesperson confirmed the Genesis team will join Global Crossing’s Workforce and will operate as a separate business unit within the company.

Photo courtesy of Flickr user Pasukaru76.

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