Prague, Czech Republic – KIT digital, a
provider of software for video-on-demand services, announced on Monday that it
has acquired Multicast Media Technologies, a live event broadcaster, for $18
million in cash and stock.
Founded in 2001, Atlanta-based Multicast provides a
platform that broadcasts some 50,000 live events annually by nearly 1,000
organizations, and said it derives $12 million in annualized recurring license
fees for its software and services.
Prague-based KIT announced last week that
it raised $15 million in an equity offering.