KVH Industries, Inc., (NASDAQ: KVHI) said it has acquired Videotel, a producer of high-quality training films and elearning services for the commercial maritime industry.
Servicing over 11,000 vessels, Videotel is a market leader in the provision of maritime training services, offering video, animation, elearning computer-based training, and interactive distance learning courses.
The GBP28.7m (USD48.9m) transaction is anticipated to be accretive to KVH earnings per share in 2014. The company financed the transaction from its cash on hand and proceeds from a new credit facility.
KVH Industries is a leading manufacturer of solutions that provide global high-speed Internet, television, and voice services via satellite to mobile users at sea, on land, and in the air, and is a leading news, music, and entertainment content provider to many industries including maritime, retail, and leisure.
Based in London, Videotel has extensive experience in the maritime training business. Its training solutions are currently available onboard more than 11,000 vessels worldwide.