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Slide #89. ORBCOMM Inc. — GlobalTrak
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 with System Planning Corporation to acquire substantially all of the assets of its GlobalTrak division. GlobalTrak is an information services company that utilizes satellite and cellular communications networks, sensors and proprietary software platforms to provide real-time situational awareness and intelligence to improve logistics and security processes and operations on a global basis. GlobalTrak's customer base includes military, international, government, and commercial customers.
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)