KIT Digital Content Solutions Rebrands as "utd. by content"
KIT Digital Content Solutions has a new corporate identity that sees the company rebrand as utd. by content.
"The move is the final stage of the transition from being an integral part of KIT Digital to being a fully independent business with our own goals," explained Petr Stransky, CEO.
The firm was spun-out of video management software company KIT Digital last June and acquired by private investors under the name Content Solutions International for $18.8 million.
Its clients for digital content distribution and services include Warner Bros., 20th Century Fox, Disney/ABC, Associated Press, and Vodafone.
"On the surface it looks like we are throwing a new logo on the company, but in many respects the name is not the biggest piece," Stransky said. "We are relaunching the business around a suite of services designed to answer the needs of content makers and distributors. We are defining a more competitive a offer for the customers we are targeting."
Asked if association with the KIT Digital brand, which was delisted from NASDAQ in December, was detrimental to business, Stransky said, "I feel it was incremental. The content industry doesn't like to invest in technology, it likes to be serviced. As part of KIT, we were able to make the right use of technology to be able to provide innovative services. As utd. by content we have a unique mix of digital technology and services to offer clients management, transformation, and distribution of content for every type of screen from digital cinema to news scripts for smart phones."
The company specializes in digital cinema content management, preparation and distribution services, video clip production, localization and distribution services for news and sports agencies, and content ingestion, management and quality control services that help digital platform providers to create and manage their video-on-demand libraries.
KIT's stock tumbles as the company loses two-thirds of its market value and considers selling off assets.
KIT's earnings report shows a non-GAAP operating loss of $8 million for the first quarter, down $24.5 million from income of $16.5 million the previous quarter
The CEO resigned, four board members stepped down, the company's financials are under scrutiny, and there's an SEC investigation. Meanwhile, KIT just acquired its 15th company. What's really happening?