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Stock Market & Financial Investment News

News Breaks
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%.
News For KVHI From The Last 14 Days
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October 15, 2014
07:13 EDTKVHIKVH Industries receives $19M order for FOG-based navigation systems
KVH Industries announced that it has received a $19M contract for the delivery of a new fiber optic gyro-, or FOG, based tactical navigation system for use by an international military customer in an armored vehicle application. A variant of KVH's TACNAV FOG product and KVH's new TACNAV 3D, the system provides continuous high-accuracy position and orientation even when GPS is lost or jammed. Work on this contract commenced in July under a letter contract, and hardware shipments for this order are expected to be made in 2015 and 2016. Program management, engineering services, and out-year support services will be provided as part of this order.

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