KIT Digital, the cloud-based software provider for multiscreen video management and delivery, has closed the asset purchase of US OTT specialist Sezmi.
KIT Digital paid consideration of approximately US$27 million (€21 million) in a mixture of stock and cash, plus earn-outs for Sezmi. As part of the transaction, the company has acquired 18 patents related to over-the-top platform provision in the mobile, online and digital terrestrial television environments
“Sezmi has been an early mover and one of the few direct competitors providing integrated, multi-device platforms for OTT premium content offerings with unique capabilities in hybrid 4G/LTE and DTT deployments,” said Gavin Campion, president of KIT Digital. “Our companies share a commitment to serving the most complex client needs in our industry, and we are excited to kick off 2012 with the addition of their major clients, valuable technology and patents, and world class personnel.”
The company said it estimates that “contracted and visible pipeline business” from Sezmi will generate revenues of at least US$20 million this year.
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