KIT digital Acquires Nunet and The Feedroom for $21 Million
KIT digital—which provides video distribution solutions in online, mobile and set-top box environments—has paid $20.9 million to acquire two of its leading competitors, Nunet AG of Germany and The FeedRoom, based in New York City.
Nunet was acquired from IMG Worldwide, Inc., which bought the firm in 2007. The combined group, branded KIT digital, will fuse KIT’s VX IP video management platform with Nunet’s mobile TV platform and The FeedRoom B2B live video and digital asset management platform into a "centralised superset of features" for video delivery over mobile, IP set top box and browser.
Expands KIT's Presence in Mobile, Enterprise Markets
"The acquisitions were a no brainer," Gavin Campion, president of KIT digital told StreamingMediaGlobal. "Both come with their relative merits, both have great technology capability, and both come with immediate cross and upsale capability which strengthens our drive for organic growth. The synergies between our companies will be a lot easier to handle simultaneously. KIT CTO Andy Steward is working to integrate a one platform continuation of our current SAAS model."
Features of The FeedRoom’s technology that particularly interested KIT were its ‘Studio’ software, including an advanced management, reporting, and analytics console. These will be integrated within VX. In turn, The FeedRoom clients will gain access to VX, including delivery of IP video to mobile devices and IP-enabled TV set-top boxes, as well as geographical targeting and SEO tools.
"Moreso than the technology is the opportunity The Feedroom gives us to open into is new verticals," he adds. "It has a blue chip client base and it is expert in internal communications, training, HR and all round back-end communications that we previously stated as a key growth vertical for us."
KIT already has over 9,600 hours of archived video content that its customers can place on their website,s while the acquisition of Nunet contributes a number of major international clients. Among mobile network operators using Nunet’s MobileTV digital asset management system is Vodafone, for whom it has produced all 624 games of the German Football League live for mobile since 2007.
Other clients include SFR, Vodacom, Proximus and Mobilkom. Nunet also works with major broadcasters and content producers like Eurosport, MTV Networks, Discovery Channel and Fashion TV.
With The Feedroom KIT’s presence in North America increases from 5-6% of total revenues to around 14%. "When I joined KIT digital in March 2008 I wanted to grow the company globally but I didn’t want to depend on the U.S.," says Campion. "Now we are ready to tackle this very competitive market."
Megahertz and Accela bring the number of KIT acquisitions to five in the past 11 months