. please update this article to reflect recent events or newly available information . february 2014 this article contains content that is written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . march 2013 learn how and when to remove this template message kit digital inc. the future of television type public industry iptv headquarters new york city key people peter heiland interim ceo fabrice hamaide cfo mark christie cto website http www.kitd.com kit digital was a video management software and services company before filing bankruptcy in april 2013 . 1 2 the kit video platform is the company s cloud based video asset management system . kit digital services nearly 2 500 clients in 50 countries including some of the world s biggest brands . the company maintains corporate headquarters in new york city and principal offices in atlanta buenos aires ely london los angeles miami milan paris san diego san francisco stockholm and york . contents 1 history 2 subsequent collapse 3 criminal actions 4 customers 5 technology 6 executive management 7 see also 8 references 9 external links history edit in late 2007 kaleil isaza tuzman purchased a controlling interest in roo group and became the company s ceo and chairman of the board . 3 roo group changed its name to kit digital in 2008 after financial restructuring of the company . 4 kit digital embarked on a growth by acquisition strategy and quickly acquired a number of players in the digital media ip video industry . in 2008 they acquired sputnik agency visual connection 5 dead link kamera 6 and morpheum . 7 in 2009 narrowstep 8 nunet 9 the feedroom 10 11 and juzou . kit digital was listed on the nasdaq global market in august 2009 under the ticker kitd . the key acquisitions facilitated kit digital to become one of the largest video software and service providers in the world . in september 2009 kit digital moved its global headquarters from dubai uae to its european head office and technical operations hub in prague czech republic citing the european zone now represented in excess of 50 % of the company s revenue stream . in 2010 the company bought the atlanta based live event broadcaster multicast media technologies 12 13 and later went on to buy more broadcast and media asset management companies including benchmark broadcast systems dead link megahertz broadcast systems dead link accela communications dead link and brickbox digital media . dead link by october that year kit digital was estimated to control 25 % of a 500 million market for internet video management software . 2011 was a big year for kit . in january they spent approximately 77.2 million dollars to purchase three social software and video companies kewego 14 kickapps 14 and kyte 14 and kickapps ceo alex blum was appointed to the new position of global coo of kit digital to manage worldwide operations . a few months later kit spent over 100 million dollars to purchase txt polymedia 15 for 34.4 million and it software services company ioko 16 for approximately 74 million in cash and 1 509 805 restricted shares of kit common stock totaling 91.4 million . subsequent collapse edit on november 21 2012 the company announced errors that will force restatement of prior period financial statements and postponement of q3 2012 results . 17 the 2009 2010 and 2011 years and 1q12 and 2q12 will be restated ; kitd says investors should no longer rely upon previously issued statements for those periods . the company says an event of default exists in a secured loan facility that has 11 mln . usd outstanding ; that its cash balance has dwindled to usd 10.6 mln . and that cash burn is expected to continue . as a result kit is exploring a broad set of strategic alternatives including financing deals virtually guaranteed to be dilutive and a sale . it s also cancelling its 2012 shareholder meeting . shares traded more than 50 % down in after hours trading . the company announced on december 10 2012 that it has received notice 18 from nasdaq because it has not yet filed 3q results with the sec . the company no longer complies with the continued listing requirements under nasdaq . the nasdaq stock market announced on december 11 2012 that trading of nasdaq kitd shares was halted . 19 dead link kitd announced on april 16 2013 that it would file for bankruptcy on april 24 with a debt plan supported by three of the largest shareholders . the company s last financial statements listed a revenue of 107.3 million for the six months ended june 30 resulting in a 110.8 million loss from operations including a 55 million goodwill impairment charge . jones day with a claim of 1.6 million for legal services is shown as the largest unsecured creditor . the case is in re chapter 11 . kit digital inc. case no. 13 11298 u.s. bankruptcy court southern district of new york manhattan . 20 isaza tuzman left kit digital in april 2012 . 21 dead link criminal actions edit the collapse of kit digital led to a number of arrests broadly alleging that the share price was fraudulently inflated by seeking to buy the company s shares with the company s own money through an investment vehicle controlled by kaleil isaza tuzman . stephen maiden was sentenced in february 2015 to seven years in prison . 22 in july 2016 omar amanat was arrested as part of the criminal case but has not yet been formally charged . 23 kaleil isaza tuzman is presently in prison in colombia but his extradition to the u.s. has been sought . 24 customers edit kit digital s clients include airbus the associated press 25 at & t bbc bskyb disney abc google hewlett packard mediaset mtv news corp rsc mediagroup sky deutschland sky italia telecom argentina 26 o2 universal studios verizon vodafone and volkswagen . technology edit this article contains content that is written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . march 2013 learn how and when to remove this template message the kit video platform 27 dead link is the company s cloud based video asset management system that enables media & entertainment network operator and non media enterprise clients to produce manage and deliver live and on demand socially enabled video experiences from any source to any screen . the kit video platform is available in two editions kit cloud and kit cosmos . 28 dead link kit cloud is a cloud based turnkey platform for multiscreen video publishing and monetization designed for enterprise and media & entertainment organizations seeking an intuitive turnkey system to manage their videos . kit cosmos is an on premises or managed private cloud solution for advanced broadcast grade multiscreen broadband tv deployments . both editions of the kit video platform are supported by the platform operations manager kit digital s proprietary operational support system that delivers broadcast grade quality of service and reduces the cost risk and complexity of deploying advanced ip video solutions . operations manager combines integrated itil service management security and quality assurance and is designed to increase functionality and scalability while minimizing operational and maintenance costs . the connected device framework a comprehensive software development kit extends the reach of the kit video platform and enables video providers to deliver content from any source to any connected device . a key element of the connected device framework is the app studio which enables non technical users to author manage and distribute highly custom native flash and html5 media players facebook apps and native ios and android apps for smartphones and tablets . executive management edit peter heiland interim chief executive officer fabrice hamaide chief financial officer kevin joyce chief commercial officer mark christie chief technology officer ralf tillmann chief strategy officer mark portu general manager global ovp jon mckinney general manager amer allan dunn general manager northern europe and apac pier carlo olgiati general manager southern and central europe sian hodgson senior vice president global infrastructure services see also edit iptv broadband tv social tv content management system mobile content references edit kit digital riding the online video wave . 2009 11 23 . kit digital bolsters focus on threescreen video for 2009 . 2009 02 27 . roo group kaleil tuzman named chairman and ceo paidcontent roo group rebrands itself as kit digital . kit digital acquires telco iptv services provider visual connection kit digital acquires telco iptv services provider visual connection check url value help . 2008 10 07 . kit digital acquires swedish mobile tv firm kamera kit digital acquires swedish mobile tv firm kamera check url value help . 2008 05 21 . kit digital acquires cms vendor morpheum . 2008 09 05 . kit digital acquires the assets of broadband tv provider narrowstep kit digital to retire the feedroom and nunet projects 2009 revenue of 46m . 2009 12 05 . kit digital buys 2 rivals for 20.9 m in cash stock . dead link the feedroom acquired by kit digital for mere 10 million in stock ; after 61 million funding . 2009 10 05 . kit digital buys rival multicast for approx . 18 million . kit digital buys u.s. multicast for 18 mln . reuters . march 15 2010 . a b c http techcrunch.com 2011 01 31 exclusive kit digital acquires kickapps kewego and kyte for 77 2 million http techcrunch.com 2011 03 16 kit digital buys polymedia for 34 4 million teases big upcoming acquisition http techcrunch.com 2011 04 11 kit digital acquires ip video management and delivery company ioko for 91 4m in cash and stock kit digital inc. announces restatement of prior period financial statements and postponement of third quarter 2012 results . 2012 11 21 . kit digital inc. announces receipt of notice from nasdaq . 2012 12 10 . kit digital to change auditors and announces delisting from nasdaq . 2012 12 18 . kit digital files for bankruptcy . 2013 04 26 . kit digital s chairman resigns two men sentenced to seven years in prison for defrauding investors in separate multi million dollar investment fraud schemes . fbi . retrieved 14 july 2016 . omar amanat arrested and charged as kit digital case widens . bloomberg . retrieved 14 july 2016 . the man who went from harvard to goldman to colombian jail . bloomberg . retrieved 14 july 2016 . kit digital new ip video deal associated press . 2009 10 06 . kitd.com . 1 2 external links edit kit digital inc. kit digital yahoo finance profile kit digital new york times corporate profile retrieved from https en.wikipedia.org w index.php title kit digital & oldid 730488556 categories companies formerly listed on nasdaqhidden categories pages with url errorsall articles with dead 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