Orbcomm will buy GlobalTrak and MobileNet. The purchases are part...
Orbcomm will buy GlobalTrak and MobileNet. The purchases are part of Orbcomm’s effort to expand its end-to-end solutions portfolio into key vertical markets and new geographic regions, it said Thursday in press releases (http://bit.ly/WKbSrh, http://bit.ly/XaI1mJ). Globaltrak’s customer base includes military,…
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international, government and commercial customers, Orbcomm said. Combining the companies’ capabilities “will create a suite of transportation related product offerings across the expanded global distribution network,” it said. The transaction is expected to close in the second quarter of 2013, Orbcomm said. Through integrating MobileNet’s products and services, Orbcomm will “directly address opportunities within the heavy equipment industry through original equipment manufacturers, dealers and fleet owners,” it said. The MobileNet transaction will close within 30 days. Orbcomm also reported Thursday a 14 percent revenue increase to $12.4 million in the fourth quarter of 2012 compared to the same period in 2011 (http://bit.ly/152eqiI). For 2012, revenue reached $49 million, a 31 percent increase from 2011, it said.