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Space Tech Expo Bremen - 2021 Nov

U.S. investment firm pays hefty 52% premium for Orbcomm

Paris, 9 April 2021. – Going private: The IoT specialist Orbcomm agreed to be acquired by the U.S. investment firm GI Partners, valuing the company at $1.1 billion, Orbcomm said.

The Nasdaq-listed firm, a global provider of Internet of Things (IoT) solutions, said it entered into a “definitive agreement” to be acquired, in an all-cash transaction, by GI Partners, a private investment firm based in San Francisco.

Orbcomm’s stockholders will receive $11.50 in cash per outstanding share of common stock upon closing of the transaction, representing a premium of 52% to Orbcomm’s closing share price on 7 April and a 50% premium over the 90-day volume-weighted average share price through that date, Orbcomm said.

Orbcomm describes itself as “a global leader and innovator in the industrial Internet of Things, providing solutions that connect businesses to their assets to deliver increased visibility and operational efficiency”. The company offers asset monitoring and control solutions, including satellite and cellular connectivity, hardware and applications.

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Register Today For Our Space Café “33 minutes with Remco Timmermans” On 26 October 2021

This Space Café WebTalk will feature Remco Timmermans, Social Media Specialist for Space, in conversation with Torsten Kriening, publisher of SpaceWatch.Global. Live from the International Astronautical Congress 2021 in Dubai. Remco is an experienced space business professional, with 15+ years of experience in business analysis, process improvement, corporate