DUBAI, United Arab Emirates, Oct. 14 - KIT digital, Inc. (OTC Bulletin Board: KITD - News), a leading global provider of IPTV enablement technology and video-centric interactive marketing solutions, announced on October 7, 2008 that it had acquired privately held Visual Connection, a.s., a digital media and IPTV solutions provider for major media outlets in Europe and the Middle East. KIT digital announced that the acquisition was pro forma accretive, and that the combined company is now generating in excess of $40 million in revenue on an annualized basis, with positive operating EBITDA.
The company will host a conference call to discuss the acquisition, management’s strategic plan and the current market environment at 10:30 a.m. ET/ 4:30 p.m. CET on Thursday, October 16, 2008. To participate in the call, please dial +1 (800) 762-6568 (North America) or +1 (480) 248-5088 (outside of North America). Please dial into the call at least five minutes before the scheduled start time to allow for processing time.
For interested individuals unable to join the live conference call, a replay of the call will be available beginning Thursday, October 16, 2008, one hour after the initial call, until Thursday, October 30, 2008 at 5:00 p.m. ET. To access the replay, please dial +1 (800) 475-6701 (North America) or +1 (320) 365-3844 (outside of North America). The access code for the audio replay is 964890.
About KIT digital
KIT digital, Inc. (OTCBB: KITD - News) is a leading, global provider of proprietary IP-based video distribution technologies and video-centric interactive marketing solutions. Through its end-to-end platform, KIT digital works closely with consumer brands, content providers and telcos to maximize the value of video content via the Internet, mobile networks and IPTV set-top boxes. The KIT VX platform allows clients to publish, manage and distribute digital video content, build online/mobile communities and integrate advertising. KIT offers businesses a full range of interactive marketing solutions and KIT clients can access approximately 100 KIT-syndicated channels and 40,000 KIT-syndicated videos. KIT digital clients include ABC Disney, Associated Press, China Mobile, General Motors, IMG, Kmart, NASDAQ, News Corp, RCS, Telefonica and Verizon. KIT digital has principal offices in Dubai, Melbourne (Australia), Prague, Stockholm, New York and London. For additional information, visit http://www.kit-digital.com.
Media Contact:
Jonathan Cutler
Verse Communications
818.981.3023
jonathan@verseinc.com
