A working example using threads complete with disconnect recovery:

#! perl -slw
use strict;
use threads;
use Thread::Queue;
use IO::Socket;

my $Q = new Thread::Queue;

my @threads = map async {
    while( 1 ) {
        my $s = IO::Socket::INET->new( $_ ) or die $!;
        while( my $input = <$s> ) {
            $Q->enqueue( $input );
        }
        sleep 5;
    }
}, 'localhost:12345', 'localhost:6789';

while( my $input = $Q->dequeue ) {
    chomp $input;
    if( $input =~ m[Z:] ) {
        ## Deal with telemetry
        print "Got telemetry: '$input'";
    }
    else {
        ## Deal with waypoint;
        print "Got waypoint: '$input'";
    }
}
[download]

A little trace showing reconnect for both servers:

C:\test>678330.pl
Got telemetry: 'X:-77.64038 Y:-153.75366 Z: 15910'
Got waypoint: 'X:-171.05713 Y:051.82251'
Got telemetry: 'X:-42.74780 Y:028.83911 Z: 28944'
Got waypoint: 'X:-38.79272 Y:-104.06250'
Got telemetry: 'X:057.34863 Y:-125.10132 Z:  2259'
Got waypoint: 'X:-27.70752 Y:073.97095'
Got telemetry: 'X:-107.01782 Y:-63.42407 Z: 11333'
Got waypoint: 'X:119.52026 Y:122.77222'
Got telemetry: 'X:065.73120 Y:076.75049 Z:  7514'
Got waypoint: 'X:-101.51367 Y:059.56787'
Got waypoint: 'X:077.84912 Y:-00.31860'
Got waypoint: 'X:000.24170 Y:-07.85522'
Got waypoint: 'X:-179.58252 Y:-50.33936'
Got waypoint: 'X:-138.26294 Y:-179.98901'
Got waypoint: 'X:-20.14893 Y:062.01782'
Got waypoint: 'X:-86.61621 Y:-63.24829'
Got waypoint: 'X:-99.17358 Y:-173.48511'
Got telemetry: 'X:-122.01416 Y:036.21094 Z: 17707'
Got waypoint: 'X:-65.35767 Y:-42.01172'
Got telemetry: 'X:-27.78442 Y:123.21167 Z: 11011'
Got waypoint: 'X:094.70215 Y:174.35303'
Got telemetry: 'X:-57.84302 Y:034.00269 Z: 11311'
Got waypoint: 'X:-83.51807 Y:-146.19507'
Got telemetry: 'X:-09.01978 Y:035.83740 Z:  6095'
Got telemetry: 'X:-14.65576 Y:176.96777 Z: 14657'
Got telemetry: 'X:-97.55859 Y:-81.47461 Z: 28815'
Got telemetry: 'X:-150.65552 Y:087.11060 Z: 14598'
Got telemetry: 'X:-113.20313 Y:-15.20508 Z: 15945'
Got telemetry: 'X:-127.38647 Y:098.18481 Z:  1425'
Got telemetry: 'X:022.19238 Y:-145.00854 Z: 14309'
Got waypoint: 'X:-129.70459 Y:125.38696'
Got telemetry: 'X:-101.64551 Y:-58.45825 Z: 15181'
Got waypoint: 'X:-14.16138 Y:171.74927'
Got telemetry: 'X:-88.86841 Y:-92.66968 Z:  3557'
Got waypoint: 'X:-121.08032 Y:002.66968'
Got telemetry: 'X:125.14526 Y:-29.19067 Z: 13236'
Got waypoint: 'X:155.89600 Y:-78.14575'
Got telemetry: 'X:094.61426 Y:-44.34082 Z:  6590'
Got waypoint: 'X:-74.31152 Y:110.48950'
Terminating on signal SIGINT(2)
[download]