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Slide #88. ORBCOMM Inc. — MobileNet, Inc.
ORBCOMM Inc. (NASDAQ:ORBC)
ORBCOMM Inc. (NASDAQ:ORBC), a global satellite data communications company specializing in Machine-to-Machine (M2M) communications and solutions, today announced that it has entered into an agreement to acquire substantially all of the assets of MobileNet, Inc. (MobileNet), a leader of satellite and cellular-based telematics solutions for monitoring heavy equipment and assets that support the rail industry as well as being a long-time ORBCOMM value-added reseller.
ORBCOMM is a provider of Internet of Things (IoT) solutions, including network connectivity, devices, device management and web reporting applications. Co.'s IoT products and services are designed to track, monitor, control and enhance security for various assets, such as trailers, trucks, rail cars, sea containers, generators, fluid tanks, marine vessels, diesel or electric powered generators, oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters, in several industries including transportation and supply chain. Co. also provides satellite Automatic Identification Service data services to assist in vessel navigation and to improve maritime safety.
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Strong Buy (4.00 out of 4)