Key Developments: ORBCOMM Inc (ORBC.W)
3.63USD
17 May 2013
$0.15 (+4.31%)
$3.48
$3.50
$3.63
$3.49
800
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$5.31
$2.88
Latest Key Developments (Source: Significant Developments)
ORBCOMM Inc Completes Acquisition of Both GlobalTrak and MobileNet
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. Full Article
ORBCOMM Inc To Acquire MobileNet, Inc
ORBCOMM Inc announced that it has entered into an agreement to acquire substantially all of the assets of MobileNet, Inc. (MobileNet). The transaction is expected to close within 30 days. ORBCOMM was advised by Near Earth LLC on the transaction. Terms of the transaction were not disclosed. Full Article
Sumitomo Construction Machinery Co., Ltd Selects ORBCOMM Inc To Provide Wireless Data Connectivity For Global Original Equipment Manufacturers Telematics Solution
ORBCOMM Inc announced that Sumitomo Construction Machinery Co., Ltd. (Sumitomo) has selected ORBCOMM to provide wireless data connectivity for their global Original Equipment Manufacturers (OEM) telematics solution. Sumitomo, which is one of Japan's manufacturers of excavators, asphalt pavers and other construction equipment, will use ORBCOMM`s global satellite communications network to track and monitor the location, status and performance of their equipment anywhere in the world. Sumitomo`s advanced asset monitoring solution will help the company gain visibility over its fleet of machinery, improve operational efficiency, maximize cost savings, and ultimately provide better service to its customers. Global deployment of the OEM installation will begin in mid-2013. Full Article
inthinc Selects ORBCOMM Inc For Global M2M Communications Service
ORBCOMM Inc announced an agreement for ORBCOMM to provide wireless data services for inthinc’s breakthrough technology applications in the heavy equipment, oil & gas and commercial fleet industries in the United States. Full Article
ORBCOMM Inc.'s Partner, LuxSpace, Announces Award Of Multi-Year AIS Contract With European Maritime Safety Agency (
ORBCOMM Inc. announced the award of a multi-year framework contract with the European Maritime Safety Agency (EMSA) through ORBCOMM`s partner, LuxSpace Sarl (LuxSpace), an affiliate of OHB System AG. ORBCOMM and LuxSpace will provide satellite Automatic Identification System (AIS) data used for ship tracking and other maritime navigational and safety efforts to EMSA for designated regions and specific maritime projects. The framework contract is funded for up to EUR500,000 (USD625,000) for the first year with options for an additional two years with funding levels yet to be determined. Full Article
PAR Technology Corporation Completes Sale Of Logistics Management Subsidiary To ORBCOMM Inc.
PAR Technology Corporation announced that has completed the asset sale of its subsidiary, PAR Logistics Management Systems (PAR LMS), to ORBCOMM Inc. as further described in the Company’s “Definitive Agreement” announcement of December 28, 2011. The total selling price is valued at approximately $6 million, comprised of cash and ORBCOMM common stock with a potential additional earn-out of $4 million. Full Article
ORBCOMM Inc. To Acquire PAR Technology Corporation's PAR Logistics Management Systems Assets
ORBCOMM Inc. and PAR Technology Corporation, announced that they have entered into a definitive agreement under which ORBCOMM will acquire the assets of PAR’s subsidiary, PAR Logistics Management Systems (PAR LMS). PAR LMS is a provider of advanced solutions for monitoring transport assets and cargo in the transportation and distribution industries. Under the terms of the transaction, ORBCOMM will acquire PAR LMS for approximately $6 million at closing, comprised of cash and common stock, plus the potential of up to $4 million in additional consideration based on achieving specific sales targets. The transaction is expected to close in mid-January 2012. Full Article
Prime Inc. Begins Deployment Of ORBCOMM Inc.'s Sentry Reefer Management System
ORBCOMM Inc.'s StarTrak Information Technologies, LLC announced that Prime Inc., a refrigerated, flatbed, and tanker carrier, has begun broad deployment of StarTrak’s two-way communication reefer management system, Sentry. Full Article
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