KIT digital, a provider of IPTV enablement technology and video-centric marketing solutions, recently announced that it has completed an agreement to acquire Morpheum, an Australian provider of LanternCMS software.
LanternCMS's Integration Into KIT VX
LanternCMS, the highlight of this acquisition, plays an integral role in expanding KIT digital's IPTV platform. It is a versatile Web CMS that touts ease-of-use and functionality while offering a modular design. Its integration into KIT VX is expected to have numerous benefits for the company. KIT digital believes that LanternCMS's integration into KIT VX will allow for "broader web-based content management" while immediately reducing operating costs by decreasing or eliminating third-party software reliance.
Kaleil Isaza Tuzman, chairman and chief executive officer of KIT digital, also believes that the acquisition of Morpheum will bring the company immediate cash flow contributions while materially expanding their delivery capabilities for content.
It is expected that the integration of LanternCMS into KIT VX should be accomplished relatively quickly -- primarily because the company has utilized LanternCMS on previous occasions for client projects.
Matt Harris, founder and CEO of Morpheum, is being announced as the head of content management solutions. In Dubai, he will ensure that the integration goes as planned while managing the release of KIT digital's new video-focused CMS.
"By merging with KIT, we expect to increase the types of products and services we deliver to our current client base and in turn provide new capabilities to KIT's global roster of clients," said Harris.
Benefits From Morpheum's Acquisition
KIT digital believes that its purchase of Morpheum will propel the company forward:
* KIT VX will be built upon as a complete CMS solution.
* The deal should result in an improved presence in the Asia -- Pacific region.
* An immediate increase in profitability, cash flow and revenue is expected.
* The company is planning for cost savings by eliminating outsourcing to CMS vendors.
* New leadership will be gained through the merging of the companies.
KIT digital has plenty to live up to, but the company is confident that it can make good on its AU$ 950,000 (approximately US$ 836,000) purchase of Morpheum and its impressive Web CMS. Only time will tell if it was worth it.