KIT digital is preparing to exit bankruptcy and emerge under the new name Piksel. The company had filed for bankruptcy three months ago after a troubled period of operations.
KIT digital has announced that it expects to file for Chapter 11 bankruptcy and reorganise under a new group entity named Piksel by April 24.
KIT digital has dismissed Grant Thornton as its independent auditor and says it is in the process of appointing a new firm to take on the task.
KIT digital looks likely to be removed from the NASDAQ index after failing to file its quarterly accounts.
KIT digital has said it has identified a number of errors and irregularities in its financial reporting.
KIT digital has announced it is making “significant workforce reductions” as the company looks to bring down its expenditure by $40 million (€30.5 million).
KIT digital has appointed Mark Christie as the company’s chief technology officer.
The Turkish pay-TV platform D-Smart has opted for KIT digital to develop and launch a multiscreen OTT pay-TV service.
Kit Digital has integrated Civolution’s Automatic Content Recognition (ACR) technology, SyncNow, into its Cosmos video management software,
Broadcasters are being cautioned against the over-use of second screen services, which when badly implemented could pull viewers away from the very content that is being promoted.