SOURCE: KIT digital, Inc.

KIT digital, Inc.

September 01, 2009 14:12 ET

KIT digital to Ring NASDAQ Closing Bell on Thursday, September 3

NEW YORK, NY and DUBAI, UNITED ARAB EMIRATES--(Marketwire - September 1, 2009) - KIT digital, Inc. (NASDAQ: KITD), a leading global provider of on-demand software solutions for managing and monetizing Internet Protocol (IP) based video assets, will ring the NASDAQ Stock Market Closing Bell on Thursday, September 3, 2009 to commemorate the company's listing on the NASDAQ Global Market on August 13, 2009.

"Our NASDAQ listing represents an important step towards our goal of establishing KIT digital as the global leader in IP video management for the enterprise," said Kaleil Isaza Tuzman, KIT digital's chairman and chief executive officer. "Ringing the closing bell provides us with the opportunity to publicly thank our employees, customers and shareholders who have provided us steadfast support during the last couple of years of rapid change and development. We'd like to invite everyone associated with the company to join us in celebrating this event via the live online broadcast of the ceremony on Thursday."

KIT digital recently announced the completion of a $31.9 million public offering of common stock (including the exercise of underwriters' over-allotment option), which occurred concurrently with the NASDAQ Global Market listing. The net proceeds of the offering will be used primarily to fund accretive acquisitions.

The ceremony is being held at the NASDAQ's MarketSite in New York City and will be viewable live online starting at 3:50 p.m. Eastern time via this link: http://www.nasdaq.com/about/marketsitetowervideo.asx.

Follow on video footage of the event will be available via KIT digital's web site at: www.kitd.com.

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. For more information, go to www.nasdaq.com.

The NASDAQ MarketSite includes a state-of-the-art digital broadcast studio that transmits business shows, such as CNBC's "Fast Money," and broadcasts approximately 100 live market updates each day by a host of media outlets, including CNBC, Bloomberg TV, Fox Business Network, CNN, New Delhi Television, Xinhua News Agency and other financial networks that reach millions of viewers around the world with up-to-the-second market news. For more information about the NASDAQ MarketSite, visit www.nasdaq.com/reference/marketsite_about.stm.

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. KIT digital is a premier partner to Akamai Technologies, jointly providing an unparalleled suite of IP-based content management, storage and delivery. 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, 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