Feeds

KIT buys ioko for $79.4m

Sixth acquisition this year

  • alert
  • submit to reddit

Top three mobile application threats

Video technology company KIT Digital has capped off a tech acquisition frenzy with the purchase of cloud based video provider ioko365 for US$79.4 million.

Marking KIT’s sixth acquisition this year after buying KickApps, Kewego, Kyte, Polymedia and WWB, the company states it will be moving from its shopping spree phase to one focused on driving organic growth.

The latest purchase gives KIT a bigger slice of the international broadcasting pie and tightens its links to Australia. ioko has existing relationships with players including Foxtel, AT&T, BBC, BSkyB, Channel 4, Samsung, ITV, Liberty Global, LoveFilm and SeeSaw.

Foxtel engaged ioko to launch a full pay-television service to the Xbox gaming console, launched late last year. Other clients include Diageo, Disney, Electronic Arts, Evolution Gaming, , Molson Coors Brewers, Universal Music, Univision and VimpelCom.

“This transaction represents the culmination of a three-plus year dedicated process to achieve global scope and market share in the IP video platform software sector, both from a geographical and capabilities perspective,” said Kaleil Isaza Tuzman, chairman and CEO of KIT Digital.

ioko has approximately 380 employees and full-time contractors, with offices in Sydney, San Diego, London, York in the UK, and Spain’s Malaga. It provides end-to-end managed cloud-based platform solutions for multi-screen video delivery over connected IP to telco, cable, media and entertainment companies globally but with a strong focus on North American, Northern European and Australasian markets.

The company will also help KIT springboard into the China market, which is the next growth opportunity for the ambitious video based operator.

Gavin Campion, KIT Digital's president said, “we see the ioko acquisition as being squarely aligned with our stated strategic objective of delivering larger and more advanced video deployments. We will be focused on internal product development, channel sales, on-the-ground growth in China and other non-M&A related strategic initiatives.”

The acquisition involves the appointment of several ioko executives to KIT digital's global management team, including Mark Christie, ioko’s joint global CEO, Scott Sahadi, ioko’s CEO of North America. ®

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.