KVH Industries, Inc. (NASDAQ: KVHI) revealed that it has partnered with Kilo Marine. Kilo Marine has joined forces with the firm to provide connectivity in its KVH Watch Solution Partner Program. As per the deal, for the surveillance and repairing services of ship equipment immediately, Kilo Marine will offer KVH Watch Connectivity.
In general, the digital services provided by Kilo Marine through its V-Node platform will be using KVH Watch to deliver committed distant access. It also offers on-demand involvement of the highly qualified Kilo Marine technicians to offer help to their customers worldwide. The V-Node is a powerful IoT tool of Kilo Marine. It is best known as a provider of intelligent data processing/sampling at source and compatibility with a broad range of electrical data structures.
Shares of KVH Industries, Inc. (NASDAQ: KVHI) plummeted 2.89% during the trading session of Wednesday. In the past 52-weeks of trading, this firm's share went from a low point around $6.36 to briefly over $12.48. Its shares traded up 84.59% from its 52-weeks low and moved down -5.93% from its 52-weeks high. Its Gross Margin is 35.90%, Profit Margin is -8.80% and Operating Margin is -9.50%. KVH Industries has a total market cap of $217.19 million at the time of writing.
We are currently facing a pandemic and in this difficult time, ships at sea need remote support. But many maritime service suppliers still reliant on in-port service calls due to absence of connectivity while the ship is at sea. This partnership of KVHI and Kilo Marine will offer a devoted satellite connectivity which offers services distantly while the ship is at sea.
The combination of the KVH Watch and V-Node will make this possible. It offers shipowners & managers an inexpensive and controlled IoT infrastructure that benefits from real-time assessments and direct on-demand video processing, vetting, audits, and much more. This capability to offer service distantly will provide a new opportunity for both firms.