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
Sec Filings
- 12/18/24 - Form 4
- 12/10/24 - Form 8-K
- 11/13/24 - Form SC
- KVHI's page on the SEC website