KIT digital acquisition spree nets Kyte, KickApps

Cloud-based video asset management solutions provider KIT digital has separately acquired mobile and online video platform provider Kyte, on-demand social media software platform provider KickApps and B2B video solutions provider Kewago--together, the three deals value $77.2 million. According to KIT digital, the purchases accelerate its product roadmap by 12 to 18 months, adding technology and product features including social media tools, mobile publishing and software development solutions and behind-the-firewall enterprise capabilities. KIT digital adds that the combined 2010 revenues of the three acquired companies totals approximately $25 million, derived largely via recurring licenses in a software-as-a-service business model.

Moving forward, KickApps CEO Alex Blum will serve as global COO of KIT digital, overseeing product management, research and development, client operations, network infrastructure and business operations. Kyte CTO/co-founder Erik Abair will join KIT's product development team as senior director of software development, and COO Gannon Hall will continue as executive vice president of global marketing--in addition, Kyte brings with it almost 100 clients, including CBS, Clear Channel, FOX News, MTV, Walt Disney Company and Nokia.

For more:
- read this release

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