SOURCE: KIT digital, Inc

KIT digital, Inc

August 13, 2009 07:00 ET

KIT digital to Move to NASDAQ Global Market Exchange Today, August 13, 2009, Under the Symbol "KITD"

NEW YORK, NY and DUBAI, UNITED ARAB EMIRATES--(Marketwire - August 13, 2009) - The common shares of KIT digital, Inc. (NASDAQ: KITD) (OTCBB: KDGL), a leading global provider of on-demand software solutions for managing and monetizing Internet Protocol (IP)-based video assets, will begin trading on the NASDAQ Global Market exchange at the open of trading today, August 13, 2009. The stock will trade under the symbol "KITD."

"Our listing on the NASDAQ Global Market represents yet another important milestone for our company," said Kaleil Isaza Tuzman, chairman and chief executive officer of KIT digital. "This will raise our visibility in the financial markets and open up KIT digital to investment from certain U.S. and offshore funds that are restricted from investing in Bulletin Board securities. We believe the NASDAQ Global Market listing will improve liquidity and, ultimately, shareholder value. Given the qualifications that were required for listing, we also expect this to enhance our status in the eyes of potential enterprise customers, who entrust us with their valuable digital assets."

The NASDAQ Global Market, formerly the NASDAQ National Market®, has been renamed to more accurately reflect its global leadership and the international reach of the exchange and its listed companies. A company must meet all initial listing criteria of one of the three listing standards for initial NASDAQ listing, and must continue to meet these standards in order to maintain its listing on the NASDAQ Global Market.

About NASDAQ® Stock Market

NASDAQ is the largest electronic screen-based equity securities market in the United States. With approximately 3,100 companies, it lists more companies and on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. NASDAQ Execution Services -- NASDAQ's broker-dealer -- is the #1 broker-dealer on the floor of the NYSE.

About KIT digital

KIT digital, Inc. (NASDAQ: KITD) is a leading, global provider of on-demand content management solutions for managing IP-based video assets. Through its end-to-end software platform, KIT VX, KIT digital works closely with consumer brands, content providers and telcos to economize on costs and maximize the value of video content via the Internet, mobile networks and IPTV enabled televisions. The KIT VX platform allows clients to ingest, manage, distribute and publish digital video content, build online/mobile communities and integrate advertising. KIT offers businesses a full range of interactive marketing solutions and KIT clients can access approximately 80 KIT-syndicated channels and 40,000 KIT-syndicated videos. KIT digital clients include Associated Press, Disney-ABC, General Motors, IMG, Kmart, NASDAQ, News Corp, RCS, Telefónica and Verizon. KIT digital has principal offices in Dubai, Melbourne (Australia), Prague, Toronto, New York and London. For additional information, please visit www.kitd.com.

Contact Information

  • KIT digital Media Contact:
    Daniel Goodfellow
    Tel. +1-646-873-3086
    Email Contact

    KIT digital Investor Relations Contact:
    Matt Glover
    Liolios Group, Inc.
    Tel. +1-949-574-3860
    Email Contact