KIT Digital Acquires Multicast For About $18 Million

KIT Digital is a Prague, Czech Republic based video tool player company that has acquired a rival called Multicast. The deal is rumored to be worth about $18 million. This is about one week after KIT Digital announced a $15 million equity offering in order to buy back 4 million outstanding warrants. Multicast will receive about $4.9 million in cash and the rest is 1.3 million shares of KIT digital common stock. Multicast is based in Atlanta and they have over 90 employees. [paidContent]