has formed an operating joint venture agreement with Buenos Aires and São Paulo-based, Latinstock Digital
, to jointly market products and services to clients in Latin America and throughout the KIT digital global network.
Latinstock Digital is a subsidiary of Latinstock, a commonly-owned consortium of companies based in Brazil, Chile, Mexico, Argentina, Colombia, Spain and other Latin markets. Latinstock, founded in 1986, is the largest and most diversified content distributor for the advertising and editorial industries in Latin America. It maintains local subsidiaries in nearly every national market in the Spanish-speaking world, as well as Brazil, and has long-term alliances with key producers in the digital content industry globally, such as Corbis Corporation, Magnum Pictures, and Image Source.
Latinstock serves thousands of clients in Argentina, Brazil, Chile, Colombia, Dominican Republic, Ecuador, Mexico, Peru, Spain, Uruguay, Venezuela and other regional markets. In the digital asset management sphere, existing Latinstock partners include Data Stock, Mambo Post, MP Advanced and Global Encode.
The agreement will initially focus on the territories of Brazil, Argentina, Mexico and Chile, with opportunities to widen the scope during the early stages of implementation. Under the agreement, KIT digital will serve enterprise Latinstock clients and client prospects that require on-demand, hosted video asset management and Latinstock will serve KIT digital clients and client prospects that require photographic content, film footage, video encoding, transmission and decoding, video production and post-production services. This combined menu of services will be jointly marketed by KIT digital and Latinstock Digital through a common sales force, using common sales collateral.