KIT digital Announces Gains in Latin America - MarketWatch (press release)

PRAGUE, CZECH REPUBLIC, Dec 21, 2011 (MARKETWIRE via COMTEX) -- KIT digital, Inc. /quotes/zigman/113079/quotes/nls/kitd KITD -3.26% , a premium cloud-based software and technology services provider for multiscreen video management and delivery, expanded its customer base in the Latin American region by more than 5x in 2011, underscored by multiple customer wins and expanded business agreements as the fiscal year comes to a close.

Recent Latin American customer wins for KIT digital include:

-- Broadcast Corporation of the Bahamas (ZNS Network) engaged KIT digital for a major head-end digital upgrade, including tapeless, Internet Protocol (IP)-based workflow and provisioning for multiscreen IP-based play-out; -- Merville Lynch Productions, a major provider of production services to ESPN, Granada and others, selected KIT digital to install new HD and IP-enabled broadcast systems; -- Telecom Argentina deployed the KIT Video Platform to power Arnet Play, its recently launched over-the-top (OTT) premium video service, enabling the network operator to deliver more than 2,500 movie and TV titles to consumers on multiple devices on demand; -- Clarin, the largest media group in Argentina and one of the largest in Latin America, chose the KIT Video Platform to distribute premium entertainment content and stream high profile live events to millions of users across multiple devices.

Additionally, the company has signed a number of new contracts in the 'Faith' vertical -- a highly popular content genre in the Latin American region:

-- Hosanna Vision, the largest faith-based organization in Central America, selected KIT digital and the KIT Video Platform for a two-phase project to upgrade its facilities to HD- and IP-based infrastructure for delivery of video content to multiple devices; -- Igreja Universal do Reino de Deus (Universal Church of the Kingdom of God), a major faith organization based in Brazil, with more than 5,000 churches worldwide and over 13 million members, selected the KIT Video Platform; -- Victory in Christ Ministry, a global faith-based organization headquartered in Rio de Janeiro, Brazil, will use the KIT Video Platform to broadcast its on-demand content to more than 670 million viewers around the world; -- Avivamiento, a broadcaster of faith-based content in Bogota, Colombia, will deploy the KIT Video Platform to enable the ministry to broadcast its 24/7 recorded TV, radio and live events programming to the web, iOS, Android and BlackBerry devices in four languages.

"These wins demonstrate the force of our on-the-ground presence in Latin America, and KIT digital's understanding of unique market needs in emerging regions," commented Kaleil Isaza Tuzman, chairman and CEO, KIT digital. "We are committed to Latin America as a company and are proud to be leveraging the full spectrum of our capabilities to help some of the region's leading network operators, broadcasters and video content producers transition to multiscreen IP-based video delivery."

To support its rapid growth and strong customer pipeline in Latin America, KIT digital has brought on board new leadership and expanded its overall office and staff footprint in the region. During 2011, the company established significant offices in Miami and Buenos Aires, representative offices in several countries, and hired Alvaro Gazzolo to serve as its new vice president of sales for OTT video solutions. He brings more than 20 years of experience working directly with major telcos, MSOs and broadcasters in the region.

"We are excited to have exceeded our 2011 business plan for Latin America, which enables us to expand our presence going into 2012 and bring on strong talent like Alvaro," said Pablo Goldstein, senior vice president of KIT digital for Latin America and the Caribbean. "We owe our success to being fully engaged with our customers to help them achieve their business goals both during and after implementation of our technology solutions. Our customers now rely upon us to deliver the most innovative, broadcast-grade OTT solutions in this part of the world, while properly serving and monetizing their audience along the way."

This regional momentum has contributed towards a landmark year for KIT digital. The company was recognized in the 'Leaders' category in the "IDC Market Analysis: Worldwide Online Video Platform 2011 - 2015 Forecast" in November 2011, based on its offering of a broad set of video platform solutions and for its aggressive, rapid growth on a global scale.

KIT digital realized annual quarter-over-quarter growth of 124% and sequential quarter-over-quarter growth of 29% in Q3 2011, along with multiple new and expanded clients and partnerships around the world, including Liberty Global, LG Electronics, Harmonic, British Sky Broadcasting, Volkswagen, AT&T, Associated Press, Airbus, Maasranga and Celvision Technologies.

About KIT digital, Inc. KIT digital /quotes/zigman/113079/quotes/nls/kitd KITD -3.26% is a premium provider of end-to-end video management software and related services. The KIT Video Platform, the company's cloud-based video asset management system, enables enterprise, media & entertainment and network operator clients to produce, manage and deliver multiscreen socially-enabled video experiences to audiences wherever they are. KIT digital services more than 2,400 clients in 50+ countries including some of the world's biggest brands, such as Airbus, The Associated Press, AT&T, BBC, Bristol-Myers Squibb, BSkyB, Disney-ABC, FedEx, Google, HP, Mediaset, MTV, News Corp, Telecom Argentina, Telefonica O2, Universal Studios, Verizon, Vodafone and Volkswagen. KIT digital maintains executive offices in New York and its operational headquarters in Prague, Czech Republic, with offices in 21 countries around the world. Visit the company at www.kitd.com or follow on Twitter at www.twitter.com/KITdigital .

KIT digital Contact: Daniel Goodfellow SVP, Corporate Communications Tel. +1-917-513-6081 Email Contact KIT digital Investor Relations Contact: Matt Glover or Geoffrey Plank Liolios Group, Inc. Tel. +1-949-574-3860 Email Contact

SOURCE: KIT digital, Inc.

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