KIT digital appoints two new Board members

Telecom Lead Europe:  KIT digital, a video
management software and services company has reconstituted its Board of
Directors with the election of two new independent members and the resignation
of two current members of the Board.

William V. Russell has joined the Board as non-executive
Chairman and Greg B. Petersen joined as a Director, the chairman of the Audit
Committee, and a member of the Strategic Transaction Committee.

“This is an important milestone in our process that
began several months ago, and we are especially pleased to add seasoned
directors like Bill and Greg who have such deep operating experience and
financial acumen,” said Chief Executive Officer Barak Bar-Cohen.

Russell possesses 23 years in executive management with
Hewlett-Packard, including as general manager of its Enterprise Systems and
Software Solutions groups.

On the other hand, Petersen worked as a technology
company Chief Financial Officer and has M&A and public audit committee

“We believe that this organization is uniquely
positioned to provide transformative video software and services to major
companies globally, and we are determined to help KIT digital as it seeks to
realize its great potential,” said Russell.

With these new appointments, the company seeks to
continue its efforts regarding corporate governance and strategic matters in
order to advance the interests of all the company’s shareholders.

KIT also looking additional qualified independent
directors to help guide and grow its business.

KIT digital to acquire Hyro, aims growth in Asia-Pacific

Recently, KIT digital inked a definitive agreement to
acquire Hyro Limited. Hyro provides enterprise grade technology, systems
integration, software and managed services solutions, headquartered in
Melbourne, Australia.

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