KIT digital Acquires Nunet, The FeedRoom

Oct 09, 2009

On-demand software solutions provider KIT digital announced that it reached definitive agreements to acquire two of its competitors, Germany-based Nunet AG and New York-based The FeedRoom. KIT digital indicated that it plans to integrate The FeedRoom's Studio software into its own VX IP video management platform, and that this combined offering will be cross-marketed with Nunet's MobileTV asset management capabilities. The acquisitions are expected to add $17.5 million of current, annualized revenues, primarily in the form of recurring and long-term contracts.