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.

Cannes, France - ROO Group, a provider of online video distribution services to companies including Verizon, News Corp. and Google, on Monday announced that it has changed the name of the company to KIT digital. "With a new, profitability-focused management team and the integration of our interactive marketing subsidiary, Sputnik Agency -- giving us a true end-to-end service offering for companies who want to harness video over IP -- we believe KIT digital is positioned to lead and consolidate the industry," said chairman and CEO Kaleil Isaza Tuzman.