Sezmi acquired by KIT digital for $27M

Sezmi, the cloud-based hybrid TV play that in September shuttered its struggling consumer service to focus instead on developing a product and technology platform targeted at service providers, has been acquired by KIT digital (Nasdaq: KITD). KIT digital paid about $27 million in stock and cash, plus earn-outs for the company, which was founded in 2006 and has raised more than $75 million.

The company had picked up a couple of big customers in Latin America and the APAC region, and was seen as one of the few direct competitors providing integrated, multi-device platforms for OTT premium content offerings.

KIT digital, which last year acquired a slew of companies to its roster of acquisitions, expects the Sezmi deal to generate aggregate earn-out payments of between $20 million and $25 million over a period of three years.

For more:
- see this FierceIPTV article
- see this release

Related articles:
Cable alternative Sezmi raises another $17.3 million
Sezmi defines itself
Sezmi unveils TV 2.0 Service
KIT digital, Harmonic team to offer multiscreen video solution
In a smart move, LG taps KIT digital for connected TV push

Suggested Articles

Subscription video streaming services are increasing their share of the money consumers spend each year on internet TV and movies.

Facebook just released a batch of new updated features for its video platforms across live, Watch Party and Creator Studio.

A new lawsuit is alleging that AT&T inflated subscriber totals for DirecTV Now (which has been renamed AT&T TV Now) by creating fake accounts for the…