ORBCOMM Inc. announced plans to be acquired by GI Partners to increase sales, marketing and technology innovation, accelerate growth and more.
“This transaction will provide immediate and substantial value to ORBCOMM stockholders, reflecting the tremendous commitment and work of our employees and stakeholders. The partnership with GI Partners will provide us the opportunity to rapidly advance our long-term strategy,” says Marc Eisenberg, ORBCOMM’s CEO. “GI Partners has an established track record of working with companies to accelerate growth, and we look forward to continuing to drive innovation, providing world-class service to our global customers and expanding our market share in the industrial IoT as a privately held company.”
“ORBCOMM has a long history of innovation, providing mission-critical services to customers across the global logistics landscape and a broad range of other industries,” says Mark Prybutok, managing director of GI Partners. “We are excited to work with the ORBCOMM team to take the business forward as IoT use cases continue to evolve and grow.”
From ORBCOMM Inc.:
- GI Partners is a U.S.-based investor in data infrastructure businesses.