KVH Industries, Inc. (NASDAQ: KVHI) said it has acquired Headland Media Ltd., a media and entertainment services company.
Headland Media is a provider of commercially licensed news, sports, movies, and music content that they sell in the maritime, hotel, and retail markets.
With extensive experience in the licensed content business, UK-based Headland Media has 115 employees, and offices in the UK, Europe, the United States, India and the Philippines. It provides television shows, premium movies, sports, news channels, and music for exhibition in commercial locations, which include ships at sea.
The USD24.0m transaction is anticipated to be accretive to KVH earnings per share in 2013. The company financed the transaction from its cash on hand and proceeds from its existing credit facility.
Visit www.minivsat.com for more information about KVH´s mini-VSAT Broadband satellite communications solution and www.HEADlandmedia.com for more details regarding Headland Media.
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. KVH is also a premier manufacturer of high performance sensors and integrated inertial systems for defense and commercial guidance and stabilization applications. The company is based in Middletown, RI, with facilities in Illinois, Denmark, Norway, Singapore, and Japan.