will join forces in a formal partnership to deliver IP-video management technology and solutions in Spain. The agreement builds upon a previous relationship that existed between vivocom and Narrowstep, a company that's assets were acquired by KIT digital earlier in 2009. Under the agreement, vivocom will market and service KIT digital's proprietary technology platform, "VX," jointly delivering IP-video solutions to customers in Spain and other Spanish-speaking countries.
KIT digital is a NASDAQ-listed company with offices in 11 countries globally. Many of KIT digital's clients have a presence in Spain or Latin America, including Cris Morena Group, General Motors, Google, HP, IMG, Intel, MTV Networks, Telefonica, Yahoo!, Vodafone and Yups, among others. KIT digital will work closely with vivocom management and employees from its Prague headquarters and London and Cologne offices.
The announcement of KIT digital's formal partnership with vivocom follows the Company's recent launch of its KIT Partnership program which initially includes 22 re-sale, business referral and implementation partners around the globe, bringing to nearly 50 the number of countries where KIT digital is active. KIT Partners complements the company's offices globally, staffed by 290 employees who speak more than 18 different languages.
The partnership took effect on November 30, 2009.