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. ®

3 Big data security analytics techniques

Whitepapers

Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.