Buying in Bulk: KIT Digital Completes Three Acquisitions, Another Deal Imminent?
The 451 Group: Inorganic Growth submits: By Ben KoladaNo stranger to inorganic growth, video asset management provider KIT Digital (KITD) just announced three acquisitions worth $77 million. The company’s recent dealmaking brings its total M&A spending to $151 million since 2006 – a hefty sum considering that KIT currently sports just a $350 million market cap. While similarly sized firms might stop for a breather, KIT plans to announce another large purchase by the end of the quarter. KIT has bought KickApps, Kyte and Kewego as it continues to consolidate the video asset management market and add social media to its platform. Kyte, the least expensive of the three targets, will provide KIT with mobile video content delivery while ParisComplete Story »