Kit Digital Buys 3 Video Companies for $77.2 Million
Kit Digital Inc. (KITD), a software provider that sold shares on the Prague Stock Exchange (PX) last year, acquired three video technology companies for an aggregate of $77.2 million to meet rising demand for these offerings.
Kit Digital separately acquired New York City-based KickApps, Paris-based Kewego, and San Francisco-based Kyte, the company said today in an e-mailed statement.
Kit Digital became the first global information-technology company to list in the Czech Republic by entering the Prague Stock Exchange in January 2010. The provider of software to stream video online and into mobile devices aims to become the No. 1 player in Internet-protocol video asset management worldwide, Chief Executive Officer Kaleil Isaza Tuzman said last year.
The stock rose as much as 2.5 percent to 264 koruna ($14.92) in Prague and stood at 263 koruna as of 2:19 p.m. local time.
The company, which provides software to some 1,300 clients including Hewlett-Packard Co. (HPQ) and Vodafone Group Plc, bought Germany’s Nunet and U.S.-based The FeedRoom in 2009 for a combined $20.9 million.
“We are intent on becoming the one-stop shop for medium and large-sized corporations’ video needs, delivering IP video management services from the eyes behind the camera shooting the video to the person watching it on any device,” Tuzman said today.
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