Dubai - KIT digital (formerly ROO Group), a provider of video distribution and interactive marketing services, announced on Thursday that it has raised $15 million through a private placement of equity.

Slightly less than 50% of the investment came from KIT Capital, which is controlled by KIT chairman and CEO Kaleil Isaza Tuzman.

"Now, as a team, we can set our sights clearly on business development through the rest of the calendar year, and consequently on our goal of being the first profitable company in the IPTV provisioning industry," said Tuzman.

KIT digital clients include News Corp., Verizon, K-Mart, NASDAQ and Google

Related Links:
http://biz.yahoo.com/prnews/080508/nyth083.html?.v=101

http://www.kit-digital.com