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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;Washington, D.C. 20549</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0.25in"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">FORM 8-K</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">CURRENT
REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
June 26, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>KIT DIGITAL, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

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    <TD STYLE="width: 33%; border-bottom: windowtext 1pt solid; text-align: center">Delaware</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: windowtext 1pt solid; text-align: center">001-34437</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%; border-bottom: windowtext 1pt solid; text-align: center">11-3447894</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(IRS Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">of incorporation)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Identification No.)</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <TD STYLE="width: 44%; text-align: center">26 West 17<SUP>th</SUP> Street, 2<SUP>nd</SUP> Floor</TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 44%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: center">New York, New York</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: center">10011</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">(Zip Code)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant's telephone number, including
area code: <U>+1 (646) 553-4845</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <TD STYLE="width: 3%; font-family: Wingdings">&uml;</TD>
    <TD STYLE="width: 97%">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Wingdings">&uml;</TD>
    <TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Wingdings">&uml;</TD>
    <TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Wingdings">&uml;</TD>
    <TD>Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;<B><U> </U></B></P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT ON FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: center; text-indent: -1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: center; text-indent: -1in"><B>KIT digital,
Inc. (the &ldquo;Company&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: center; text-indent: -1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: center; text-indent: -1in"><B>June 26, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: center; text-indent: -1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01. Entry into a Material Definitive Agreement. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The text set forth
below under Item 2.01 is incorporated into this Item by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2.01. Completion of Acquisition or Disposition of Assets.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 26 2012, the
Company, along with its subsidiary KIT digital FZ-LLC (&ldquo;KIT FZ&rdquo;) (KIT FZ together with the Company, the &ldquo;Sellers&rdquo;)
entered into an agreement (the &ldquo;Securities Purchase Agreement&rdquo;) with Content Solutions International NV, a corporation
incorporated and registered under the laws of the Kingdom of the Netherlands (the &ldquo;Purchaser&rdquo;). The Securities Purchase
Agreement was approved by the Company&rsquo;s board of directors. <FONT STYLE="color: black">Petr Str&aacute;nsk&yacute;, the former
Managing Director of the Company&rsquo;s Content Solutions business, is a director of the Purchaser as well as the Purchaser&rsquo;s</FONT>
controlling shareholder and Chief Executive Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the Securities
Purchase Agreement, the Sellers agreed to sell to the Purchaser all issued and outstanding capital stock (the &ldquo;Shares&rdquo;)
owned by the Sellers of certain directly and indirectly owned subsidiaries (the &ldquo;Subsidiaries&rdquo;) of the Company. The
Subsidiaries <FONT STYLE="font-family: Times New Roman, Times, Serif">together constituted and operated the Content Solutions business
of the Company. </FONT>The total purchase price for the Shares consists of (i) initial payments in an aggregate amount of $1,000,000,
which have been received by the Company and (ii) earn-out payments in an aggregate amount of up to $17,800,000 (subject to certain
adjustments). The earn-out payments are subject to adjustments based on the aggregate consolidated gross revenues of Purchaser
and the Subsidiaries, in accordance with the provisions of the Securities Purchase Agreement, and acceleration if the Purchaser
undergoes certain fundamental transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Securities Purchase
Agreement contains customary representations and warranties and the liability of either party for the breach of its respective
warranties is limited to $70,000. The Securities Purchase Agreement also restricts the Sellers and their respective holding companies
and subsidiaries from competing with the business of the Subsidiaries, as presently conducted, or interfering with the business
of the Subsidiaries, for a period of two years starting from the date of the Securities Purchase Agreement. The Sellers have also
agreed, under the Securities Purchase Agreement, to transfer certain equipment predominantly used by the Subsidiaries to the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing description
of the Securities Purchase Agreement, does not purport to be complete and is qualified in its entirety by reference to the full
text of the Securities Purchase Agreement, a copy of which is attached hereto as Exhibits 10.1 and incorporated herein by reference
in its entirety.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2.05.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costs Associated with Exit or Disposal Activities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As described in Item 2.01, the Company&rsquo;s
board of directors approved the Securities Purchase Agreement. The Company expects to book a loss on the sale of the Content Solutions
business, however, the amount of the loss&nbsp;is dependent upon final accounting conclusions and calculations by the Company that
are not yet complete. As such, the&nbsp;Company is not able at this time, in good faith, to make a determination of the estimated
amount or range of such loss, associated with the consummation of the transactions contemplated in the Securities Purchase Agreement
that the Company is required to report under this Item.&nbsp; The Company will file an amendment to this report upon the determination
of such amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&#9;<U>Exhibits</U>.
&nbsp;&nbsp;&nbsp;The exhibits listed in the following Exhibit Index are filed as part of this current report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 14%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; border-bottom: Black 0.5pt solid">Exhibit
        No.</P></TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 84%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; border-bottom: Black 0.5pt solid">Description</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Securities Purchase Agreement (Agreement On The Sale And Purchase Of Shares In The Companies), dated as of June 26, 2012, by and among KIT digital FZ-LLC, KIT digital, Inc.,&nbsp; and Content Solutions NV.*</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">*</FONT> <FONT STYLE="font-size: 10pt">The
Company has omitted certain schedules pursuant to Item 601(b)(2) of Regulation S-K and shall furnish supplementally copies of any
of the omitted schedules upon request by the Securities and Exchange Commission.</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3in"><B>&nbsp;</B></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify"></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: justify">KIT DIGITAL, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%; text-align: justify">Date: July 2, 2012</TD>
    <TD STYLE="width: 3%; text-align: justify">By:</TD>
    <TD STYLE="width: 45%; text-align: justify; border-bottom: Black 1pt solid">/s/ Barak Bar-Cohen</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.25in; text-align: justify">Barak Bar-Cohen</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.25in; text-align: justify">Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-align: justify; text-indent: 0.75in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Exhibit Index</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 15%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; border-bottom: Black 0.5pt solid">Exhibit
        No.</P></TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 83%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; border-bottom: Black 0.5pt solid">Description</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Securities Purchase Agreement (Agreement On The Sale And Purchase Of Shares In The Companies), dated as of June 26, 2012, by and among KIT digital FZ-LLC, KIT digital, Inc.,&nbsp; and Content Solutions NV.*</TD></TR>
</TABLE>
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[{"type": "8-K", "sequence": "1", "filename": "v317539_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 25262}]
{"company-data": {"conformed-name": "KIT digital, Inc.", "cik": "0001076700", "assigned-sic": "8900", "irs-number": "113447894", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-34437", "film-number": "12941029"}, "business-address": {"street1": "26 WEST 17TH STREET", "street2": "2ND FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10011", "phone": "6465534845"}, "mail-address": {"street1": "26 WEST 17TH STREET", "street2": "2ND FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10011"}, "former-company": [{"former-conformed-name": "ROO GROUP INC", "date-changed": "20040312"}, {"former-conformed-name": "VIRILITEC INDUSTRIES INC", "date-changed": "19990326"}]}
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 26, 2012
KIT DIGITAL, INC.
(Exact Name of Registrant as Specified in
Charter)
Delaware
001-34437
11-3447894
(State or other jurisdiction
(Commission File Number)
(IRS Employer
of incorporation)
Identification No.)
26 West 17
th
Street, 2
nd
Floor
New York, New York
10011
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including
area code:
+1 (646) 553-4845
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c))
CURRENT REPORT ON FORM 8-K
KIT digital,
Inc. (the "Company")
June 26, 2012
Item 1.01. Entry into a Material Definitive Agreement.
The text set forth
below under Item 2.01 is incorporated into this Item by reference.
Item 2.01. Completion of Acquisition or Disposition of Assets.
On June 26 2012, the
Company, along with its subsidiary KIT digital FZ-LLC ("KIT FZ") (KIT FZ together with the Company, the "Sellers")
entered into an agreement (the "Securities Purchase Agreement") with Content Solutions International NV, a corporation
incorporated and registered under the laws of the Kingdom of the Netherlands (the "Purchaser"). The Securities Purchase
Agreement was approved by the Company's board of directors.
Petr Stránský, the former
Managing Director of the Company's Content Solutions business, is a director of the Purchaser as well as the Purchaser's
controlling shareholder and Chief Executive Officer.
Under the Securities
Purchase Agreement, the Sellers agreed to sell to the Purchaser all issued and outstanding capital stock (the "Shares")
owned by the Sellers of certain directly and indirectly owned subsidiaries (the "Subsidiaries") of the Company. The
Subsidiaries
together constituted and operated the Content Solutions business
of the Company.
The total purchase price for the Shares consists of (i) initial payments in an aggregate amount of $1,000,000,
which have been received by the Company and (ii) earn-out payments in an aggregate amount of up to $17,800,000 (subject to certain
adjustments). The earn-out payments are subject to adjustments based on the aggregate consolidated gross revenues of Purchaser
and the Subsidiaries, in accordance with the provisions of the Securities Purchase Agreement, and acceleration if the Purchaser
undergoes certain fundamental transactions.
The Securities Purchase
Agreement contains customary representations and warranties and the liability of either party for the breach of its respective
warranties is limited to $70,000. The Securities Purchase Agreement also restricts the Sellers and their respective holding companies
and subsidiaries from competing with the business of the Subsidiaries, as presently conducted, or interfering with the business
of the Subsidiaries, for a period of two years starting from the date of the Securities Purchase Agreement. The Sellers have also
agreed, under the Securities Purchase Agreement, to transfer certain equipment predominantly used by the Subsidiaries to the Purchaser.
The foregoing description
of the Securities Purchase Agreement, does not purport to be complete and is qualified in its entirety by reference to the full
text of the Securities Purchase Agreement, a copy of which is attached hereto as Exhibits 10.1 and incorporated herein by reference
in its entirety.
Item 2.05.	      Costs Associated with Exit or Disposal Activities.
As described in Item 2.01, the Company's
board of directors approved the Securities Purchase Agreement. The Company expects to book a loss on the sale of the Content Solutions
business, however, the amount of the loss is dependent upon final accounting conclusions and calculations by the Company that
are not yet complete. As such, the Company is not able at this time, in good faith, to make a determination of the estimated
amount or range of such loss, associated with the consummation of the transactions contemplated in the Securities Purchase Agreement
that the Company is required to report under this Item.  The Company will file an amendment to this report upon the determination
of such amount.
Item 9.01.	     Financial Statements and Exhibits.
(d)
Exhibits
.
   The exhibits listed in the following Exhibit Index are filed as part of this current report.
Exhibit
        No.
Description
10.1
Securities Purchase Agreement (Agreement On The Sale And Purchase Of Shares In The Companies), dated as of June 26, 2012, by and among KIT digital FZ-LLC, KIT digital, Inc.,  and Content Solutions NV.*
*
The
Company has omitted certain schedules pursuant to Item 601(b)(2) of Regulation S-K and shall furnish supplementally copies of any
of the omitted schedules upon request by the Securities and Exchange Commission.
3
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
KIT DIGITAL, INC.
Date: July 2, 2012
By:
/s/ Barak Bar-Cohen
Barak Bar-Cohen
Chief Executive Officer
4
Exhibit Index
Exhibit
        No.
Description
10.1
Securities Purchase Agreement (Agreement On The Sale And Purchase Of Shares In The Companies), dated as of June 26, 2012, by and among KIT digital FZ-LLC, KIT digital, Inc.,  and Content Solutions NV.*
*
The
Company has omitted certain schedules pursuant to Item 601(b)(2) of Regulation S-K and shall furnish supplementally copies of any
of the omitted schedules upon request by the Securities and Exchange Commission.
5