KIT Acquires Brickbox

Sep 28, 2010

KIT Digital, Inc. has acquired the Prague-based Brickbox Digital Media, a privately held company, along with its subsidiaries and affiliates. KIT Digital paid an upfront consideration of approximately $10.1 million, composed of roughly $6.6 million in cash and 339,476 shares of KIT Digital common stock. As part of the agreement, KIT Digital will also pay the shareholders of Brickbox amounts equal to 10% of forward revenues from Brickbox over a period of 4 years.

Brickbox provides master studio and file management services for the purposes of digital cinema delivery, digital distribution, and localization. KIT Digital provides digital asset management services for multiscreen IP-based delivery.