Shares of KIT Digital (KITD) are up 3.62% after the company announced that it will strengthen its network and broadcaster-focused solutions with the acquisition of Polymedia, an IP video platform-provisioning subsidiary of TXT e-solutions based in Milan, Italy, for a net consideration of $34.4 million, plus certain limited performance-based earn outs.Polymedia will also expand KITD’s reach across Europe, North Africa and the Middle East. The transaction is expected to close within 30 days pending review by Italian labor authorities. Shares are up $0.53 to $13.79.