KIT digital buys U.S. Multicast for $18 mln

PRAGUE, March 15 (BestGrowthStock) – Video technology provider KIT
digital (KITD.O: ) (KITDsp.PR: ) agreed to buy privately held U.S.
group Multicast Media Technologies for $18 million in cash and
stock, it said on Monday.

The deal, to be closed by March 31, will be paid with $4.9
million in cash and 1.3 million KIT digital shares. KIT digital
will also take over $4.6 million in long-term liabilities.

The Nasdaq- and Prague-listed KIT digital also said it would
use $15 million raised in a share offering last week to buy back
4 million outstanding warrants.

It estimated it would have 17.7 million shares following the
deals and hold $15 million in net cash and equivalents.
[ID:nLDE62B1IP] [ID:nWEN1230]

Stock Market Research

(Reporting by Jason Hovet; Editing by David Holmes)

KIT digital buys U.S. Multicast for $18 mln