Los Angeles: Los Angeles based OVGuide, a comprehensive and up-to-date guide to online video, has acquired California based Live Matrix, a guide to live and upcoming schedules events on the Web. As part of the acquisition, Sanjay Reddy, Co-Founder & CEO, Live Matrix has been announced as the new CEO. The acquisition would help the company to create a definitive online guide to on-demand and scheduled video content.

OVGuide was founded in 2006 by Dale Bock and its comprehensive database allows categorizing and organizing the data, facilitating the user discovery. The content discovery features include editor’s pick videos, content browsing tools, movie/TV browse tools and listings of real-time keyword searches. The company had previously acquired a video portal ibeatyou, which was later acquired by Photobucket. In the past, OVGuide had raised $5 million in its series A round of funding from Baroda Ventures.

Live Matrix was publicly launched in 2010 with over four million events tracked across 400 channels and indexes. According to Sanjay Reddy, Co-Founder & CEO, Live Matrix, there is a geometric growth in the online video production and wide availability across multiple distribution platforms. He looks forward to work with the team to combine the audience, data, and distribution platforms of both the companies to create a valuable service for the users, content publishers, and advertisers alike.

Live Matrix would continue to operate as a stand-alone site focused on live, schedule events, including video and audio webcasts, live chats, limited-time sales, conferences, product launches, games and contests. Its founders include Allen Morgan, Chris Kelly, Irish Technology Capital, Len Kleinrock, Paige Craig, Steve Kay, Stuart Goldstein, Lori Battista, and Edgar Fereira.

Prior to founding Live Matrix, Reddy was the SVP, Business Development & Strategic Planning, at Gemstar-TV Guide International. He was the BP in the M&A group at Salomon Smith Barney, VP-Corporate Development at Covad Communications, and a Principal in a startup in the animation industry. He has also advised My Damn Channel, Pixsy, Resistor Productions, and serves on the board of BuddyTV. Reddy was also the member of the Academy of Television Arts & Sciences National Primetime Emmy Awards Committee and on its Interactive Media Peer Group’s executive committee. He pursued his Bachelor’s degree in Economics from Cornell University and holds an MBA from UCLA.