KIT digital and GoTV Networks Team up to Meet Increased Demand for Mobile Video in North America
KIT digital, Inc. (NASDAQ: KITD), a leading global provider of on-demand software solutions for managing and monetizing Internet Protocol (IP)-based video assets, has signed a distribution agreement with GoTV Networks, a premier North American mobile media network and mobile media services provider. This distribution agreement will expand KIT digital's distribution network in the United States, and meet the growing demand for better video content management and delivery by the major North American mobile carriers.
Under the terms of the agreement, GoTV will be a distributor and sales representative within North America of KIT digital's VX-one platform to wireless network providers, Internet Service Providers, broadcasters, content owners, and content distributors, for all forms of mobile and broadband distribution, including WiMax, WiFi, datacasting, and other related formats.
GoTV Networks is a premier North American mobile media network and services provider. GoTV brings original content and 3rd-party rich media content, including video, audio and books to the widest mobile distribution network in the US. GoTV's current partners in the mobile market include AT&T, Sprint, RIM/BlackBerry, T-Mobile, Google Android, Apple, Verizon Wireless, and Cricket, among others.
"Our partnership with GoTV is a great addition to our KIT Partners program as it reinforces KIT digital's presence in US mobile markets," said Barak Bar-Cohen, executive vice president of business development at KIT digital. "GoTV's top-notch content and relationships perfectly complement KIT digital's asset management platform and together we will be able to offer major mobile carriers robust and feature-rich content solutions. Our VX-one capabilities give clients the highest quality live and VoD experience on mobile devices."
KIT digital is in the process of rolling out its new content management and publishing solutions via its next-generation "VX-one" platform. VX-one features several upgrades to the current "KIT VX" platform, as well as brand new elements, including: augmented playback experience relating to advertising, interactive user engagement tools, recommendation engine, and advanced reporting capabilities. The company intends to fully deploy VX-one across its global client set by the end of the third quarter of 2010.
Commented Thomas Ellsworth, CEO of GoTV Networks, "We are impressed with what KIT digital has achieved for Vodafone and other mobile operators in Europe through its asset management platform, specifically providing a solution for entertainment content and payment gateways on mobile devices. We anticipate the adoption momentum toward Smartphones in the United States will continue in the coming year. As this occurs, a drastic increase in consumption of mobile video should follow. We are very pleased to bring the depth and quality of KIT digital's asset management and content distribution solutions to our roster of mobile and media partnerships."
KIT digital's client base includes more than 600 enterprise customers across 30+ countries, including The Associated Press, Disney-ABC, General Motors, Google, Hewlett-Packard, IMG Worldwide, News Corp, Telefonica, the U.S. Department of Defense, Verizon, and Vodafone.
About GoTV Networks GoTV Networks is a premier North American mobile media network and services provider. GoTV brings original content and 3rd-party rich media content, including video, audio and books to the widest mobile distribution network in the US. This content is accessible to mobile users using downloaded applications and through on-demand streaming services on a broad range of wireless devices. GoTV-distributed content is available on the Apple iPhone Application Store, AT&T, Boost Mobile, the Google Android Market, Sprint, T-Mobile, Verizon Wireless and Virgin Mobile. GoTV Networks is headquartered in Los Angeles. For additional information, please visit www.gotvnetworks.com.
About KIT digital, Inc. KIT digital (NASDAQ: KITD) is a leading, global provider of on-demand, Internet Protocol (IP)-based video asset management solutions. KIT VX, the company's end-to-end software platform, enables enterprise clients to acquire, manage and distribute video assets across the three screens of today's world: the personal computer, mobile device, and IPTV-enabled television set. The application of VX ranges from commercial video distribution to internal corporate deployments, including corporate communications, human resources, training, security and surveillance. KIT digital's client base includes more than 600 enterprise customers across 30+ countries, including The Associated Press, Best Buy, Bristol-Myers Squibb, Disney-ABC, General Motors, Google, Hewlett-Packard, IMG Worldwide, Intel, McDonald's, News Corp, Telefonica, the U.S. Department of Defense, Verizon, and Vodafone. KIT digital is headquartered in Prague, and maintains principal offices in Cologne, Dubai, London, Melbourne (Australia), New York, Stockholm and Toronto. For additional information, please visit www.kitd.com.
KIT digital Forward-Looking Statement This press release contains certain "forward-looking statements" related to the businesses of KIT digital, Inc. which can be identified by the use of forward-looking terminology such as "anticipates," "believes," "estimates," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product development and commercialization, the ability to obtain or maintain patent and other proprietary intellectual property protection, market acceptance, future capital requirements, regulatory actions or delays, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our public filings with the U.S. Securities and Exchange Commission. KIT digital is not under any obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
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