• by Gavin O'Malley , April 12, 2011

Video asset management software provider KIT Digital this week announced the acquisition of Ioko, a software and technology services provider for multi-screen video delivery. KIT has agreed to pay $91.4 million in cash and stock. As TechCrunch explains, Ioko provides an end-to-end managed cloud-based platform for multi-screen video delivery over connected IP devices to telecommunications cable, media and entertainment companies around the world, with a particular focus on North American, Northern European and Australasian markets. Ioko currently generates approximately $54 million in annual revenues related to IP video asset management, through a combination of recurring managed service fees, software licenses, maintenance fees and professional services. Ioko's 50 clients include AT&T, BBC, BSkyB, Channel 4, Diageo, Disney, and Electronic Arts, to name a few. With the addition of Ioko, KIT Digital is expecting revenues in 2011 of approximately $210 million, or up more than 98% over 2010, TechCrunch reports.