This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ORBCOMM To Acquire MobileNet, Inc.

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.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,102.38 -272.38 -1.66%
S&P 500 1,921.22 -29.91 -1.53%
NASDAQ 4,683.9190 -49.5780 -1.05%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs