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The $11.50 per-share cash consideration represents a premium of approximately 52% to ORBCOMM’s closing share price on 2021-04-07.
Orbcomm reported adjusted EBITDA of $54,800,000 for 2020.
The $11.50 per-share cash consideration represents a premium of about 52% on Orbcomm’s closing share price on 2021-04-07.
Under the terms of the agreement, ORBCOMM stockholders will receive $11.50 in cash per outstanding share of common stock upon closing.
Orbcomm may seek an alternative buyer during a go-shop period that expires 2021-05-07.
Orbcomm has been building trailer products to increase the availability of components that support COVID-19 vaccine distributions.
Orbcomm reported $248,500,000 in total revenues for 2020.
Orbcomm reported $272,000,000 in total revenues for 2019.
GI Partners plans to buy satellite operator Orbcomm for about $1,100,000,000 including net debt.
Orbcomm reported adjusted EBITDA of $63,100,000 for 2019.
Orbcomm uses Inmarsat’s L-band satellites in geostationary orbit for low-data-rate, two-way communications in remote locations.
Orbcomm extended a strategic partnership with British satellite operator Inmarsat in October 2020 to develop Internet of Things, telematics, and other devices through at least 2035.
Orbcomm stockholders will receive $11.50 in cash per share under the deal with GI Partners.
IWX Motor Freight, based in Springfield, Missouri, selected ORBCOMM Inc. to provide cold chain telematics solutions to track, monitor, and control its refrigerated trailers.
IWX is installing the ORBCOMM solution and expects to complete the deployment in the second quarter of 2021.
Zachry uses operational metrics from ORBCOMM to improve job costing and accountability of equipment usage.
Zachry expects to complete installation of ORBCOMM’s telematics solution by the end of the first quarter of 2021.
ORBCOMM was selected by McColl’s Transport to provide asset tracking solutions to monitor ISO tanks throughout Australia.
ORBCOMM Inc. (Nasdaq: ORBC) won a single-award Indefinite Delivery Indefinite Quantity contract of up to $45,600,000 with the U.S. Army for the Next Generation Tag program.
ORBCOMM’s satellite accessory features a satellite modem integrated with a state-of-the-art antenna for backup satellite connectivity in areas where cellular networks are unavailable or unreliable.