ADOTAS – Perhaps KIT Digital was taking shopping lessons from Google or maybe it’s just something about the letter K — the video management platform has acquired social and media video upstarts KickApps, Kyte and Kewego.
In a statement to investors, KIT said that the acquisitions will speed up the firm’s development of VX-one — a cloud-based video management platform enabling multiscreen delivery — by integrating critical new technologies: “advanced social media tools (KickApps), superior mobile publishing and software development kit (SDK) features (Kyte), and behind-the-firewall and digital signage capabilities for enterprise clients (Kewego).”
KIT CEO Kaleil Isaza Tuzman says the goal of the acquisitions is to build a one-stop (lens to lens, as he puts it) shop for IP video management services for medium-sized and larger operations.
KickApps CEO Alex Blum is the new Global COO of KIT while KicApps CFO David Lapter will take on the role of senior vice president of finance and administration. KickApps introduced version 5.0 of its social content management software this summer, which blends traditional CMS, social capabilities and video into a single dashboard.
Through its cloud-based publishing platform, Kyte enables live and on-demand video streaming from mobile devices for Internet and mobile delivery. Both Kyte CTO and cofounder Erik Abair and COO Gannon Hall, who wrote a superb piece on online video trends for Adotas in October, are joining the KIT management team.
Finally, Kewego is a cloud-based video asset management for mult-screen delivery including digital signage.
In total, KIT shelled out $77.2 million, which TechCrunch’s Robin Wauters notes is less than the three companies raised in venture funding. According to a press release, the purchase price “excludes certain incentive compensation programs for the personnel of acquired companies, which are estimated not to exceed US$4.0 million over a period of years, in a mix of cash and equity.”