Wednesday, February 8, 2012

OVGuide Buys Live Matrix

Los Angeles-based OVGuide, the online video guide site backed by Baroda Ventures, said today that it has acquired Live Matrix, a provider of an online guide to live events on the web. Financial terms of the acquisition were not disclosed. As part of the deal, OVGuide said it has appointed Sanjay Reddy, co-founder and CEO of Live Matrix, as its new CEO. Reddy replaces Peter Lee, who was serving as CEO of OVGuide. Lee is a partner at Baroda Ventures, the principal backer of OVGuide, and will remain on OVGuide's board. OVGuide offers up an online guide to help users find video content, including movies, TV shows, viral videos, and other videos. OVGuide said the acquisition was an all-stock deal.