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Provider: Jefferson Research
Provider: ValuEngine, Inc.
Provider: MacroRisk Analytics/EconomicInvestor

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ORBCOMM Inc Completes Acquisition of Both GlobalTrak and MobileNet

Wednesday, 3 Apr 2013 04:30pm EDT 

ORBCOMM Inc announced that it has completed the acquisition of substantially all of the assets of the GlobalTrak division of System Planning Corporation (GlobalTrak) and MobileNet, Inc. (MobileNet). The GlobalTrak and MobileNet acquisitions accelerate ORBCOMM`s growth strategy of expanding its end-to-end solutions portfolio into key vertical markets and geographic regions. GlobalTrak is an information services company that utilizes networks, sensors and proprietary software platforms to provide near-real-time situational awareness and intelligence to improve logistics and security processes and operations on a global basis. A long-time ORBCOMM value-added reseller, MobileNet is a provider of telematics solutions to the heavy equipment and rail support industries. The acquisition enables ORBCOMM to offer MobileNet`s complete fleet management solution directly to Original Equipment Manufacturers, dealers and fleet owners. 

Company Quote

-0.12 -1.80%
17 Apr 2014