KIT Digital (KITD -4.7%), up last week after Kaleil Isaza Tuzman resigned as chairman, is...

|About: KIT digital, Inc. (KITD)|By:, SA News Editor

KIT Digital (KITD -4.7%), up last week after Kaleil Isaza Tuzman resigned as chairman, is underperforming after announcing it's acquiring Hyro Limited, an Australia-based IT services firm, for $14.5M in stock. KIT says Hyro, which it expects will bolster its ability to support Asia-Pac customers, generated 2011 revenue of $20M, and will be immediately accretive to the company's results.