KVH Partners with TMS Maritime Solutions for KVH Watch Maritime IoT Solution

Rhea-AI Summary

KVH Industries has announced a partnership with TMS Maritime Solutions to integrate KVH Watch connectivity into TMS’s remote vessel support solutions. The collaboration aims to enhance real-time data transfer, enabling preventive maintenance and troubleshooting without docking. This initiative responds to the maritime industry's growing need for digital processes, particularly highlighted by the COVID-19 pandemic. KVH Watch delivers a dedicated and secure connectivity solution, enhancing vessel operations and reducing costs associated with traditional data flow methods.

Positive

• Partnership with TMS Maritime Solutions expands KVH Watch's market reach.
• Enhances real-time data transfer for preventive maintenance, improving vessel operational efficiency.
• Addresses increasing demand for digital connectivity in the maritime sector highlighted by the pandemic.

Negative

• Potential risks associated with unanticipated technical challenges during beta testing.
• Possibility of delayed orders or customer response affecting service expansion.
• Market competition could impact the adoption rate of KVH Watch.

Marine services expert TMS will offer KVH Watch connectivity as part of its remote vessel support solutions

MIDDLETOWN, R.I., Dec. 14, 2020 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (Nasdaq: KVHI), announced today that TMS Maritime Solutions, a marine services expert that provides Internet of Things (IoT) sensors and applications to vessels, has joined the KVH Watch^® Solution Partner program and will offer KVH Watch connectivity to enable real-time data transfers leading to actionable insights. KVH Watch connectivity will allow TMS’s trained technicians to support clients remotely for preventive maintenance and on-demand troubleshooting, rather than waiting for vessels to come into port.

“KVH Watch is the perfect solution to connect vessels’ IoT systems with ashore/cloud platforms and applications,” says Jesus Rodriguez, co-founder and CTO of TMS Maritime Solutions. “It is a dedicated, isolated, and secure way to transfer sensor and navigational data in real time. This will allow us and fleet managers to analyze gathered information for preventive maintenance, vessel performance, and historical KPIs [key performance indicators] as opportunities to lower operational costs. With Remote Expert Intervention, we can offer real time remote support to the vessel with immediate assistance saving time and money.”

“We are thrilled that the experts at TMS have chosen our connectivity solution to enhance their maritime IoT service offering,” says Sven Brooks, senior director of IoT business development for KVH. “The equipment manufacturers and vessel operators that rely on TMS for insights will benefit from the improved equipment performance and operational efficiencies that real-time data analysis can provide.”

Prompted in part by the COVID-19 pandemic, the maritime industry is increasingly relying on digital processes to realize operating efficiencies; this digitalization has highlighted the need for high-speed satellite connectivity. With limited, expensive, or slow bandwidth, there is a missed opportunity for remote data platforms and analytics to play a role in improving vessel performance. Fast satellite connectivity creates the potential to enable a secure OT (operational technology) data flow separate from the vessel’s IT (information technology) data flow, so that all the data from essential machinery onboard the vessel reaches the correct shoreside experts.

KVH Watch is an IoT Connectivity as a Service solution that provides Flow, dedicated 24/7/365 machine-to-cloud satellite connectivity for remote monitoring of onboard equipment plus the ability to perform on-demand Remote Expert Interventions using video, voice, or text via KVH’s global HTS network. KVH Watch is designed for maritime equipment manufacturers, multicard service providers, and shipyards seeking affordable monthly subscription-based connectivity that L-band and cellular services cannot deliver at deep sea.

KVH is a mobile tech innovator that provides connectivity solutions for commercial maritime, leisure marine, and land mobile applications on vessels and vehicles, including the award-winning TracPhone^® and TracVision^® product lines, the global mini-VSAT Broadband_sm network, KVH Watch maritime IoT solutions, and AgilePlans^® Connectivity as a Service (CaaS). The company’s KVH Media Group provides news, sports, and entertainment content with such brands as NEWSlink™ and SPORTSlink™.

Note to Editors: For more information about KVH Watch maritime IoT solutions, please visit kvh.com/watch. High-resolution images of KVH products are available at the KVH Press Room Image Library, kvh.com/Press-Room/Image-Library.

About TMS Maritime Solutions
TMS Maritime Solutions is an innovative IoT service platform integrator providing the maritime industry with solutions including IoT sensors and applications, connectivity, information technology, cybersecurity, and other fully managed solutions. TMS’s KVH-certified Master Technicians ensure the highest quality and knowledge for installation and management of KVH products and solutions. The company is based in Barcelona, Spain, and brings more than 20 years of experience in connectivity and maritime sectors.

About KVH Industries, Inc.
KVH Industries, Inc., is a global leader in mobile connectivity and inertial navigation systems, innovating to enable a mobile world. A market leader in maritime VSAT, KVH designs, manufactures, and provides connectivity and content services globally. KVH is also a premier manufacturer of high-performance sensors and integrated inertial systems for defense and commercial applications. Founded in 1982, the company is based in Middletown, RI, with research, development, and manufacturing operations in Middletown, RI, and Tinley Park, IL, and more than a dozen offices around the globe.

This press release contains forward-looking statements that involve risks and uncertainties. For example, forward-looking statements include statements regarding the expected competitive advantages of KVH Watch, the anticipated strategic relationship between TMS Maritime Solutions and KVH, the functionality, characteristics, quality, and performance of KVH’s and TMS Maritime Solutions’ products, services, and technology, as well as customer demand, preferences, requirements, and expectations. Actual results could differ materially from the forward-looking statements made in this press release. Factors that might cause these differences include but are not limited to: unanticipated technical and other challenges that arise during beta testing and customer trials of the KVH Watch service; unanticipated technical, legal, and regulatory delays with the launch of the new services; delays in the receipt of anticipated orders for our KVH Watch service, or the potential failure of such orders to occur at all; potential future decisions by TMS Maritime Solutions to terminate or otherwise not expand orders for the KVH Watch service; customer response to KVH Watch; potential changes in market trends, competition and other developments affecting the buying patterns of end-users of maritime IoT solutions; and potential unforeseen costs or expenses of providing the products and services included in KVH Watch subscriptions. These and other factors are discussed in more detail in KVH’s Form 10-Q filed with the SEC on October 29, 2020. Copies are available through its Investor Relations department and website, https://ir.kvh.com. KVH does not assume any obligation to update forward-looking statements to reflect new information and developments.

KVH Industries, Inc., has used, registered, or applied to register its trademarks in the U.S.A. and other countries around the world, including but not limited to the following marks: KVH, KVH Watch, TracPhone, TracVision, mini-VSAT Broadband, AgilePlans, NEWSlink, and SPORTSlink. All other trademarks are the property of their respective companies.

For further information, please contact:
Jill Connors
Sr. Manager, Media & Industry Analyst Relations
KVH Industries, Inc.
Tel: +1 401 851 3824
jconnors@kvh.com

FAQ

What is the KVH Watch connectivity solution?

KVH Watch is an IoT Connectivity as a Service solution that enables real-time data transfer for remote monitoring and maintenance of vessels.

How does the partnership with TMS Maritime Solutions benefit KVH shareholders?

The partnership enhances KVH's service offering, potentially improving customer retention and operational efficiencies, thus benefiting shareholders.

What challenges might KVH face with the KVH Watch service?

KVH may encounter unanticipated technical issues during beta testing and customer trials, which could delay service implementation.

When was the partnership with TMS Maritime Solutions announced?

The partnership was announced on December 14, 2020.

What are the implications of the COVID-19 pandemic for KVH's services?

The pandemic has increased demand for digital solutions in the maritime industry, making KVH Watch a timely and relevant offering.