FORT LEE, N.J.--(BUSINESS WIRE)--ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data communications company focused on two-way Machine-to-Machine (M2M) communications, today announced that it has completed a global AIS distribution agreement for commercial purposes with Lloyd’s Register – Fairplay (LRF).
LRF is the leading provider of insight and information in the commercial shipping sector and operates a global network of terrestrial based AIS receivers, which is used to validate the position of the world’s merchant fleet. The addition of satellite sourced information will transform LRF’s capability to provide unrivalled coverage that will significantly enhance systems, which are provided to government and other appropriate organizations increasing safety, security, and efficiency into the maritime supply chain. The agreement with LRF includes a minimum annual license fee to ORBCOMM and grants access to ORBCOMM’s global satellite AIS offerings commencing in January 2009.
“ORBCOMM is excited to have LRF as the first global distributor of AIS data provided by our quick-launch satellite network,” said Marc Eisenberg, Chief Executive Officer. “These recently-launched satellites provide the only commercially available global satellite AIS data set, which will provide a distinct competitive advantage to LRF as it continues to grow its leading position within the AIS market. Additionally, the position of LRF within IHS Inc., will provide opportunities for ORBCOMM to partner with other IHS operations to offer a broad array of maritime information to potential customers.”
“AIS data, when used appropriately, is of significant benefit to both government and industry,” said Richard Silk, Joint Managing Director of Lloyd’s Register – Fairplay. “The fusion of both terrestrial and satellite derived AIS data provides an unrivalled view of the global maritime domain. The matching of timely positional information with the comprehensive ship, port, company and news databases maintained by Lloyd’s Register – Fairplay, provides our customers with the insight and information they need. Access to timely, accurate information is essential in enhancing both safety and security and creating efficiency.”
About ORBCOMM Inc.
ORBCOMM is a leading global satellite data communications company, focused on Machine-to-Machine (M2M) communications. Its customers include Caterpillar Inc., General Electric, Hitatchi Construction Machinery, Komatsu Ltd., and Volvo Group among other industry leaders. By means of a global network of low-earth orbit (LEO) satellites and accompanying ground infrastructure, ORBCOMM’s low-cost and reliable two-way data communications products and services track, monitor and control mobile and fixed assets in four core markets: commercial transportation; heavy equipment; industrial fixed assets; and marine/homeland security. The Company's products are installed on trucks, containers, marine vessels, locomotives, backhoes, pipelines, oil wells, utility meters, storage tanks and other assets. ORBCOMM is headquartered in Fort Lee, New Jersey and has a network control center in Dulles, Virginia. For more information, visit www.orbcomm.com.
Lloyd's Register - Fairplay was formed in July 2001 from a merger of Lloyd's Register's Maritime Information Publishing Group and Prime Publications Ltd. This merger brought together the two largest maritime database providers of ship, company, port and other related information. In March 2008 Prime Publications Limited was acquired by IHS Inc. (NYSE: IHS, www.ihs.com) effectively making IHS a 50-50 partner in Lloyd's Register – Fairplay. For more information, visit www.LRFairplay.com
Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, objectives and expectations for future operations and are based upon management’s current estimates and projections of future results or trends. Although we believe that our plans and objectives reflected in or suggested by these forward-looking statements are reasonable, we may not achieve these plans or objectives. Our actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: the substantial losses we have incurred and expect to continue to incur; demand for and market acceptance of our products and services and the applications developed by our resellers; loss or decline or slowdown in business from the Asset Intelligence division of General Electric Company (“GE”), other value-added resellers, or VARs, and international value-added resellers, or IVARs; loss or decline or slowdown in growth in business of any of the specific industry sectors the Company serves, such as transportation; litigation proceedings; technological changes; pricing pressures and other competitive factors; the inability of our international resellers to develop markets outside the United States; satellite launch failures, satellite launch and construction delays and cost overruns and in-orbit satellite failures or reduced performance; the failure of our system or reductions in levels of service due to technological malfunctions or deficiencies or other events; our inability to renew or expand our satellite constellation; financial market conditions and the results of financing efforts; political, legal regulatory, governmental, administrative and economic conditions and developments in the United States and other countries and territories in which we operate; the impact of a global recession and continued worldwide credit and capital constraints; changes in our business strategy; and the other risks described in our filings with the Securities and Exchange Commission. Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.