KVH Announces the Sale of Videotel for $90 Million to Focus on Core Strategic Initiatives
KVH Industries, Inc. (KVHI)
Last kvh industries, inc. earnings: 5/1 07:00 am
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Source: GlobeNewswire
MIDDLETOWN, R.I., May 13, 2019 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (Nasdaq: KVHI), today announced that it has sold its maritime training business, the Videotel group of companies, to an affiliate of Oakley Capital for a base purchase price of $90 million, on a cash-free, debt-free basis, subject to working capital adjustments. The sale was completed immediately upon execution of definitive agreements. “As part of our long-term strategic roadmap, we are focusing on the large and growing markets of our core mobile connectivity and inertial navigation businesses,” says Martin Kits van Heyningen, chief executive officer of KVH. “We intend to use the net proceeds of the sale to invest in three key growth initiatives that we expect will drive significant value creation, as well as to reduce our debt. Specifically, we plan to invest in the development and commercialization of our photonic integrated chip technology for use in autonomous vehicles and other commercial and milita
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KVHI
News
- KVH Industries to Host First Quarter Conference Call on May 6, 2024 [Yahoo! Finance]Yahoo! Finance
- KVH Industries to Host First Quarter Conference Call on May 6, 2024GlobeNewswire
- KVH Industries, Inc. (NASDAQ: KVHI) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Global Maritime Satellite Industry Report 2024-2033: Integration of IoT in Maritime Communications, Rise of High-Throughput Satellite, and Migration to Flat-Panel Antennas Gaining Momentum [Yahoo! Finance]Yahoo! Finance
- KVH Industries, Inc. (NASDAQ: KVHI) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
KVHI
Sec Filings
- 4/29/24 - Form ARS
- 4/29/24 - Form DEF
- 4/4/24 - Form 4
- KVHI's page on the SEC website