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.
The acquisition of the MobileNet business supports ORBCOMM’s growth strategy of expanding its end-to-end solutions portfolio in key vertical markets. Integrating MobileNet’s unique products and services will allow ORBCOMM to directly address opportunities within the heavy equipment industry through Original Equipment Manufacturers (OEM’s), dealers and fleet owners.
Through MobileNet’s flexible, proven telematics platform, ORBCOMM can offer the industry a complete fleet management solution. MobileNet’s advanced web applications, which utilize ORBCOMM’s global network connectivity, will provide customers access to precise, near-real time equipment data on demand, including location, engine and production hours, mileage, fuel usage, maintenance alerts and asset security. Leveraging MobileNet’s turnkey offering will further enhance ORBCOMM’s leadership position in services to the global heavy equipment sector by providing customers significant operating advantages as well as savings in development costs and faster time to market for implementing telematics solutions in the field.
“With MobileNet’s strong customer base and proven success as a solutions provider in this market, we believe the MobileNet product offering fits perfectly within our strategic initiative of strengthening our end-to-end solutions capabilities in key areas,” said Marc Eisenberg, ORBCOMM’s Chief Executive Officer. “We have worked with the MobileNet team for many years and look forward to having them join ORBCOMM.”
“Building on MobileNet’s advanced technology platform and ORBCOMM’s extensive global reach, we welcome the dynamic opportunities for growth, innovation and expansion the acquisition offers MobileNet and our customers,” said William Purdie, MobileNet’s Founder and President. “We strongly believe that our customers will continue to benefit from MobileNet’s high level of service and reliability while gaining new value from ORBCOMM’s breadth of global data communications services, engineering and customer support and enhanced distribution channels.”