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Stock Market & Financial Investment News

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July 3, 2014
07:03 EDTKVHIKVH Industries acquires Videotel for $48.9M
KVH Industries announced that it has acquired Videotel, a producer of training films and e-Learning services for the commercial maritime industry. The $48.9M transaction is anticipated to be accretive to KVH FY14 EPS. The company financed the transaction from its cash on hand and proceeds from a new credit facility. The audited financial statements of the acquired Videotel group companies showed annual combined revenues in 2013 of GBP 14M, of which approximately 93% was derived from multi-year subscription-based services. During 2013, Videotel's combined gross profit margin was approximately 73%.
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