Summary:

TheFeedRoom, the grandaddy of online video and streaming services companies, has been acquired by international video tech provider KIT Digi…

TheFeedRoom

TheFeedRoom, the grandaddy of online video and streaming services companies, has been acquired by international video tech provider KIT Digital, for about $10 million, all in stock. FeedRoom has been around since 1999, and has raised at least $61 million since launching. Also, KIT is announcing another acquisition: German video provider Nunet AG, which it bought by international talent agency and production company IMG, for about $11.1 million. Nunet is primarily focused on mobile video delivery, and has clients such as SFR, Vodafone (NYSE: VOD), Discovery Channel, and MTV Networks (NYSE: VIA), among others. The total price paid for the two companies was about $20.9 million, of which $9.8 million was paid in stock, $7.9 million was paid in cash and $3.3 million of debt was assumed in the form of a convertible promissory note. Release.

As part of the FeedRoom deal, the company’s controlling shareholders-NewSpring Ventures, BEV Capital and Velocity Equity Partners – invested $4.0 million in KIT Digital common shares, at a price of $11 per share, through the conversion of The FeedRoom Series F Preferred Shares purchased at closing.

KIT says the two acquisitions are expected to add $17.5 million of current, annualized revenues, and more than $4.5 million in annualized EBITDA. In Jan, KIT

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