SOURCE: KIT digital

October 06, 2009 08:00 ET

KIT digital Renews Alliance With the Associated Press to Manage and Deliver Video Content Globally

PRAGUE, CZECH REPUBLIC--(Marketwire - October 6, 2009) - KIT digital, Inc. (NASDAQ: KITD), a leading global provider of Internet Protocol (IP) based video management technologies, and The Associated Press (AP) have signed a new deal to manage and deliver video content globally. The agreement inaugurates a new contractual phase in a highly successful ten-year alliance between AP and KIT digital, deepening technology integration and enhancing service provision for AP's clients around the world.

The new agreement, which builds upon and extends existing license and service agreements between AP and KIT digital, was executed in the context of ongoing discussions between the companies regarding potential collaboration in emerging IP video areas, including IPTV enabled television and high-bandwidth mobile networks.

"This important next stage in our collaboration with KIT digital will allow us to improve the management and delivery of AP's video news content to clients and newsrooms across the globe," said Daisy Veerasingham, VP of Sales, EMEA and Asia, for the Associated Press.

AP will continue to use KIT's scalable, enterprise level VX Video Management Platform to manage, modify, syndicate and deliver digital video news content. Under the agreement, APTNvideo.net (AP's content distribution exchange, built by KIT digital) will continue to be operated by KIT digital and further developed jointly. The APTNvideo.net platform is designed to allow website and mobile operators, along with commercial news broadcasters, to browse and download AP news, entertainment, and sports video content in the appropriate format for their individual needs.

KIT digital will also continue to edit, localize and syndicate exclusive, unedited AP content for KIT digital customers, including the highly popular Wow!TV service. This localization service involves the dubbing of news, sport and entertainment content in more than 15 different languages, including the 'Latin American package,' a series of news and entertainment clips produced daily and specifically tailored for the Latin American market.

Gavin Campion, president of KIT digital, commented: "This renewed alliance clearly demonstrates our industry leadership in delivering IP video management systems for the world's leading news producers, whether for online, mobile or traditional news broadcast. We expect the agreement to take our joint offering to a new level of technology enhancement integration, and advance AP's position as the world's most relied-upon news source."

About KIT digital

KIT digital (NASDAQ: KITD) is a leading, global provider of on-demand Internet Protocol (IP)-based video asset management solutions. Through its end-to-end software platform, "KIT VX," KIT digital enables enterprise clients to acquire, manage and distribute their video assets across the three screens of the computer Internet browser, mobile device and television via an IPTV set-top box. KIT digital clients' use of the VX platform ranges from end-consumer focused video distribution to internal corporate deployments, including corporate communications, human resources, training, security and surveillance. The KIT digital client base includes over 470 enterprise customers across 30+ countries, including The Associated Press, Disney-ABC, Google, IMG Worldwide, Kmart, NASDAQ, News Corp, RCS, Sensis, Telefonica, and Verizon. KIT digital has principal offices in Prague, Melbourne (Australia), New York, Toronto, London and Dubai. 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.

Contact Information

  • KIT digital Media Contact:
    Daniel Goodfellow
    Vice President of Marketing and Communications
    Tel +1-646-873-3086
    Email Contact

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

    AP Media Contact
    Suzie Schilling
    tpr Media
    Email Contact