ROCHELLE PARK, N.J.--(BUSINESS WIRE)--ORBCOMM Inc. (Nasdaq:ORBC), a global provider of Machine-to-Machine (M2M) and Internet of Things (IoT) solutions, today announced that it has entered into a definitive agreement to acquire Skygistics (PTY) Ltd. and its South African and Australian subsidiaries. Based outside of Johannesburg, South Africa, Skygistics provides a broad range of satellite and cellular connectivity options as well as telematics solutions centered around the management of remote and mobile assets to more than 250 telematics and enterprise customers. Skygistics will add distribution for ORBCOMM’s broad range of products in some of the fastest growing IoT markets, including South Africa and 22 other African nations.
Skygistics is a long-time partner of SkyWave, a subsidiary of ORBCOMM, and a distributor of SkyWave’s satellite connectivity products. Satellite connectivity is used widely in Africa for cost-effective, mission-critical cross-border security monitoring and asset management applications.
“The acquisition of Skygistics supports ORBCOMM’s long-term strategy of becoming a leading global, full-service provider in the Internet of Things,” said Marc Eisenberg, ORBCOMM’s Chief Executive Officer. “Adding incremental products and services to Skygistics’ infrastructure will build a stronger presence on the African continent, which is an important growing market.”
“ORBCOMM provides Skygistics with the breadth of products, solutions, support and technical resources needed to make a greater impact in the African telematics market,” said Kevin Eborall, Skygistics’ Chairman. “We expect to more fully meet our customers’ requirements and vastly grow the business through the distribution of industry-leading transportation, heavy equipment and a host of other solutions and services in this underserved region. The strength of the ORBCOMM brand combined with Skygistics’ regional footprint and technology make this transaction a great fit.”
Skygistics has more than 40 employees with an established sales and distribution network throughout Africa. The transaction is expected to close in May 2016, subject to customary closing conditions.
ORBCOMM was advised by Near Earth LLC on this transaction.
About ORBCOMM Inc.
ORBCOMM Inc. (Nasdaq: ORBC) is a leading global provider of Machine-to-Machine (M2M) communication solutions and the only commercial satellite network dedicated to M2M. ORBCOMM’s unique combination of global satellite, cellular and dual-mode network connectivity, hardware, web reporting applications and software is the M2M industry’s most complete service offering. Our solutions are designed to remotely track, monitor, and control fixed and mobile assets in core vertical markets including transportation & distribution, heavy equipment, industrial fixed assets, oil & gas, maritime, mining and government.
With nearly 20 years of innovation and expertise in M2M, ORBCOMM has more than 1.5 million subscribers with a diverse customer base including premier OEMs such as Caterpillar Inc., Doosan Infracore America, Hitachi Construction Machinery Co., Ltd., John Deere, Komatsu Ltd., and Volvo Construction Equipment, as well as end-to-end solutions customers such as C&S Wholesale, Canadian National Railways, CR England, Hub Group, KLLM Transport Services, Marten Transport, Swift Transportation, Target, Tropicana, Tyson Foods, Walmart and Werner Enterprises. For more information, visit www.orbcomm.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 events and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Such forward-looking statements, including those concerning the Company’s expectations, are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from the results, projected, expected or implied by the forward-looking statements, some of which are beyond the Company’s control, that may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In addition, specific consideration should be given to various factors described in Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2015, and other documents, on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise any forward-looking statements or cautionary factors, except as required by law.