October 08, 2009 08:30 ET

PMT Appoints KIT digital to Build Next-Generation Video Subscription Platform

PRAGUE, CZECH REPUBLIC and MOSCOW--(Marketwire - October 8, 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, has extended its relationship with Personal Media Technology (PMT), a division of Sigmalink Investments Ltd., and been formally appointed to provide a technology platform for the delivery of video content to customers throughout Russia. The deal is the second major new business announcement from KIT digital at the MIPCOM conference in Cannes, France.

The new service, called 'OViVO,' will be delivered via KIT digital's "VX" video management platform. Customized and localized to PMT's specifications, the platform will allow OViVO customers to watch tens of thousands of hours of user-targeted video content in their home using an IP set-top-box. The content will be constantly refreshed by a next-generation video recommendation engine, which will track both viewing habits and demographic data to generate a customized playlist for each end-user, and enable advertisers to deliver personalized ads to their target-audience.

Under the terms of the minimum two-year deal, PMT will have the right to deploy the customized KIT VX video management solution in other countries and regions around the world, under similar commercial terms. "KIT digital's complete and scalable technology is ideally suited to our product goals," said Tatyana Prokhorova, chief executive officer of PMT, "and their global presence and experience across different network and device environments makes KIT the perfect partner for this major new IPTV launch."

Gavin Campion, president of KIT digital, commented: "This important new business win reinforces that KIT digital is the global partner of choice in the deployment of enterprise-level, industrial-grade IP video technology for large audiences. We believe KIT digital is the only provider in our space that can deliver the scale and complexity of IP video deployment that is demanded by clients like PMT."

Andy Steward, KIT digital chief technology officer, added: "By drawing on demographic data, viewing habits and genre preferences, we are able to create a truly next-generation recommendation engine. Integrated with the best elements of our VX video management platform, we believe the technology we are deploying for PMT will lay the groundwork for an extraordinary end-user experience, and make its way into our next-version releases of the VX platform globally."

As with all standard KIT digital contracts, the agreement between PMT and KIT digital includes an upfront installation fee, ongoing monthly license fees for the VX system, and fees related to end-customer usage.

About the KIT VX Video Management Platform

The KIT VX Video Management Platform allows clients to easily capture, manage, and monetize digital video assets, and deliver them via the Web, mobile networks and IPTV-enabled set-top boxes. KIT VX centralizes video asset management, and allows for multiple users within client organizations to have different access rights to content to help ensure appropriate distribution, promotion and creation of content. The platform includes a robust content management system (CMS) for managing large amounts of text, documents, images, audio, along with the core video assets -- and elements of the platform can be integrated with existing content management systems via VX's advanced application programming interfaces (APIs) that include a number of pre-built, modular extensions. As part of a new global partnership agreement, KIT VX now integrates with Akamai IP video solutions, providing unparalleled IP-based content management, storage and delivery.

About PMT

"Personal Media Technologies," a division of Sigmalink Investments Ltd, manages "OViVO" in the Russian market -- a unique personalized video service, which completely turns over ordinary perception of watching films or television shows. OViVO is a new vision in the world of entertainment and the first large step towards next-generation television. Access to OViVO is carried out via a special subscriber access device (SAD), which is easy to connect to a TV set and the Internet and which has a user-friendly interface managed by remote control. For more information please see www.ovivo.ru

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 Dubai, Melbourne (Australia), Prague, Toronto, New York and London. For additional information, 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
    Tel. +1-646-873-3086
    Email Contact

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