KIT Acquires Multicast Media

Mar 16, 2010

KIT digital, Inc. acquired Atlanta-based Multicast Media Technologies, Inc. for $18 million. The deal includes $4.9 million in cash and 1.3 million shares of KIT digital common stock. KIT will take on $4.6 million in liabilities from the formerly privately-held company.

Multicast specializes in live event broadcasting, internet video management and targeted multimedia communications. In 2009, 1,000 organizations broadcasted 50,000 live events to 250 million viewers worldwide using the Multicast hosted technologies.