KVH Industries has sold its maritime training business, Videotel, to an affiliate of Oakley Capital for USD90 million.
The Videotel group of companies includes Super Dragon, Videotel Marine International, Videotel Training Services, Videotel Consultants and Rentals and Videotel Marine Asia.
Oakley has also acquired a majority stake in maritime e-learning platform Seagull from its current shareholder Herkules Private Equity Fund IV.
“The digital transformation taking place in the shipping industry, as well as the increasingly complex regulatory framework, offers a significant opportunity for e-learning providers,” said Oakley.
“The management teams of Seagull and Videotel believe that this opportunity can be grasped most effectively by working together as a combined group. With both parties able to collaborate and share knowledge and resources, the two businesses will be able to provide their respective customers with a greater level of product and services.”