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Confirming early reportslast week, white-label video provider KIT Digital announced today that it has acquired Nunet AG of Cologne, Germany and TheFeedRoom in separate purchases. Nunet provides management and delivery of video to mobile devices, and The FeedRoom is a general-purpose video platform competitor to KIT Digital.
The total paid for Nunent and TheFeedRoom was roughly $20.9 million (based on the KIT’s closing market price last Friday), 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. Nunet’s 56 employees will remain in Cologne, and “many” of TheFeedRoom’s 53 employees will join KIT’s NYC operations.
Elsewhere in acquisition land, sports and entertainment presenter AEG announced it was buying webcasting management and production service company Incited Media. Incited Media-powered events had included Live Earth, YouTube Live, The Democratic National Convention, the Olympics, the MTV Video Music Awards, Farm Aid, The Grammys, the People’s Choice Awards, Nickelodeon’s Kids Choice Awards and the Ansari X-Prize.
AEG will combine Incited with AEG Productions to form AEG Digital Media. Terms of the AEG deal were not disclosed, but paidContent is hypothesizing $10 to $15 million.