KIT digital Acquires Live Event Broadcaster Multicast for $18M

Authored by Mark Hefflinger on March 15, 2010 - 7:26am.

Prague, Czech Republic - KIT digital, a provider of software for video-on-demand services, announced on Monday that it has acquired Multicast Media Technologies, a live event broadcaster, for $18 million in cash and stock.

Founded in 2001, Atlanta-based Multicast provides a platform that broadcasts some 50,000 live events annually by nearly 1,000 organizations, and said it derives $12 million in annualized recurring license fees for its software and services.

Prague-based KIT announced last week that it raised $15 million in an equity offering.

Related Links:
http://snipurl.com/uusa8

http://www.multicastmedia.com

http://kit-digital.com