• by Gavin O'Malley  @mp_gavin, August 13, 2009

Seeking capital for future acquisitions, online video provider KIT digital began trading on the NASDAQ Global Market exchange Thursday. The stock is trading under the symbol “KITD.”

“This will raise our visibility in the financial markets and open up KIT digital to investment from certain U.S. and offshore funds that are restricted from investing in Bulletin Board securities,” said Kaleil Isaza Tuzman, chairman and CEO of KIT digital.

The move, Tuzman added, “puts us in a position to execute on selected, accretive acquisitions.”

Then known as Roo Group, KIT digital was taken over by Tuzman -- a former JumpTV executive -- in December 2007.

The name change to KIT--an acronym that stands for “Knowledge, Imagination and Technology”--is meant to reflect changes under Tuzman aimed at refocusing on the company’s core business of providing video services to companies across the entertainment, financial, automotive and other industries.

KIT allows clients to publish, manage and distribute digital video content, as well as tap its syndicated video channels and syndicated videos for content.

Tuzman previously said a key change for the company would be to focus on delivering live streams instead of video-on-demand for third-party sites.

KIT previously announced public offering of common stock was priced at $7.00 per share. A total of 3,410,000 shares were sold by KIT digital, and a total of 550,000 shares were sold by unaffiliated selling stockholders. KIT digital granted a 30-day option to the underwriter to purchase up to an additional 594,000 shares of common stock to cover over-allotments.

The NASDAQ Global Market, formerly the NASDAQ National Market, was recently renamed to reflect its global presence.