Summary:

KIT Digital (formerly Roo Group) has bought Swedish mobile video firm Kamera for $4.2 million in cash and up to $6 million in KIT stock, dep…

KIT Digital (formerly Roo Group) has bought Swedish mobile video firm Kamera for $4.2 million in cash and up to $6 million in KIT stock, depending on certain performance thresholds, reports Digital Media Wire. Kamera provides packaging and distribution of IPTV content on mobile carriers and more than 70 online corporate customers, and did $2.9 million in revenues in 2007, and is predicting revenue of $5.6 million for 2008. It was bought by its management back in 2005. KIT is looking for Kamera as a way into mobile video distribution, as well as to increase its presence in Europe, the Middle East and Asia.

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