KVH Industries Acquires Videotel

By Joseph R. Fonseca
Sunday, July 06, 2014
Martin Kits van Heyningen, KVH’s chief executive officer

 

KVH Industries, Inc., acquired Videotel, a producer of high-quality training films and e-Learning 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, e-Learning computer-based training (CBT), and interactive distance learning courses.
 

“The acquisition of Videotel is an important addition to our portfolio of services targeting the needs of commercial seafarers and supports our strategic vision of extending our maritime broadband service to include delivering premium content to vessels,” said Martin Kits van Heyningen, KVH’s chief executive officer. “We already offer maritime companies crew connectivity through our mini-VSAT Broadband network, including Internet café, Voice over IP phone calls, and crew entertainment services via our IP-MobileCast™ service. With this acquisition, we will now also offer an extensive library of seafarer training courses and related training services.”

“Videotel operates in a growing sector of the e-Learning market where increasing levels of regulation and a shortage of trained and experienced seafarers drive the need for comprehensive training solutions,” Mr. Kits van Heyningen added. “We anticipate that Videotel’s training services and the ability to test and certify seafarer training will support the new employment services we’re rolling out on our Crewtoo® social media site.”

Speaking of the acquisition and the opportunities ahead, Nigel Cleave, CEO of Videotel, remarked, “Advances in maritime broadband services are creating truly exciting opportunities to bring a whole new generation of computer-based e-Learning and distance learning courses to seafarers, which will help our customers meet the large number of new regulations and associated challenges that will come into effect over the next few years. In our discussions with KVH, we quickly saw how the innovative mini-VSAT Broadband network and especially the new KVH IP-MobileCast content delivery service could really be leveraged to deliver our new training materials more efficiently and provide the affordable connectivity needed for our new distance learning services. We’re excited to be part of the KVH family to propel the company forward on both the technological and delivery front, as well as to work with our new colleagues in developing the next generation of seafarer training.”

The £28.7 million ($48.9 million) 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. The audited financial statements of the acquired Videotel group companies showed annual combined revenues in 2013 of £14.0 million, of which approximately 93% was derived from multi-year subscription-based services. During 2013, Videotel’s combined gross profit margin was approximately 73%.
 

Mr. Kits van Heyningen concluded, “We recognized that our commercial maritime customers face significant challenges training and certifying the qualifications of their vessels’ crews and that advances in communications technology will be a key enabler in the delivery of the e-Learning and distance learning services and cloud-based training management systems that Videotel offers. In Videotel we found a team of smart, energetic people with a real passion for their products and services, and going forward I believe the combined efforts of our new, larger team will make our joint vision of extensively improved seafarer training a reality.”
 

Akin Gump Strauss Hauer & Feld LLP acted as legal counsel to KVH.

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

China's Maritime Advances Worry US

The Director of U.S. National Intelligence, James Clapper, has expressed his concern at the progress of China in maritime zones it shares with its neighbors, accused

Davie Building LNG-powered Ferries

Canadian shipbuilder Davie held a keel laying ceremony for MV Armand-Imbeau II, marking the beginning of the hull assembly for this first of two sisterships under

Keppel FELS to Deliver 100th Jackup Rig

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) is on track to deliver PV Drilling VI, a KFELS B Class jackup rig, to PV Drilling Overseas (PVDO),

Education/Training

Zamakona Yards' Commitment to Well-being

Recently employees of Zamakona Yards participated in a training course for maintaining Health, Safety and Environment (HSE). The theoretical practice focused on working at heights,

US, Chinese Navies Conduct Joint Exercise

A U.S. Navy littoral combat ship and a Chinese Navy frigate conducted a joint training exercise in the South China Sea.   The U.S. Navy littoral combat ship USS

USCG Foundation Announces Scholarships

The Coast Guard Foundation, a non-profit organization committed to the education and welfare of Coast Guard members and their families, announced today that

Energy

GasLog Post 4Q 2014 Results

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31,

Petrobras Downgrade Shakes Market

Moody's shocked bond investors this week with a surprise two-notch downgrade that put Brazilian oil company Petrobras in junk territory. The move was seen by some investors as overly assertive,

Brightoil Reports Steady Growth in Interim Results

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period,

News

China's Maritime Advances Worry US

The Director of U.S. National Intelligence, James Clapper, has expressed his concern at the progress of China in maritime zones it shares with its neighbors, accused

British Queen to Name New Ship

Queen Elizabeth II will christen P&O Cruises’ new flagship Britannia in Southampton, England, on March 10. She will be accompanied by her husband, Prince Philip, the Duke of Edinburgh.

Berenberg in $1.1bln Box Bid

The world's second-oldest bank Joh. Berenberg Gossler & Co. KG is lining up a new fund worth EUR 1bn ($1.1bn) for the containership sector.   A report appeared

Vessels

British Queen to Name New Ship

Queen Elizabeth II will christen P&O Cruises’ new flagship Britannia in Southampton, England, on March 10. She will be accompanied by her husband, Prince Philip, the Duke of Edinburgh.

Great Lakes Shipping Worries about Tough Spring

Ice conditions have been causing concern for Great Lakes shipping industry. The satellite images show that the Great Lakes once again almost entirely covered in ice.

Berenberg in $1.1bln Box Bid

The world's second-oldest bank Joh. Berenberg Gossler & Co. KG is lining up a new fund worth EUR 1bn ($1.1bn) for the containership sector.   A report appeared

Mergers & Acquisitions

VLCCF - 4Q & FY 2014 Results

Knightsbridge Shipping Limited ( VLCCF ) reports net income of $5.2 million and earnings per share of $0.06 for the fourth quarter compared with a net loss of $6.

NMM lines up Box Buy

Navios Maritime Partners L.P. (NMM) an international owner and operator of container and drybulk vessels, announced today that it has secured, for no consideration,

SpeedCast Acquires Geolink Satellite Services

SpeedCast International Limited announced the acquisition of Geolink Satellite Services, part of the CETel Group. The closing of the transaction is subject to regulatory approval.

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1345 sec (7 req/sec)