Orbcomm to acquire South Africa’s Skygistics
Orbcomm (ORBC -3.7%) has deal to acquire South Africa-based Skygistics, a firm offering remote and mobile asset management.
Terms were undisclosed. The agreement includes Skygistics’ subsidiaries in South Africa and Australia.
Skygistics is a distributor of satellite connectivity products made by Orbcomm subsidiary SkyWave. The deal “supports Orbcomm’s long-term strategy of becoming a leading global, full-service provider in the Internet of Things,” says Orbcomm chief Marc Eisenberg.
The acquisition is expected to close in May.
Earlier today, Orbcomm announced a new heavy equipment telematics solutioncombining its ruggedized PT 7000 device with the FleetEdge Web application for fleet management in the construction, mining, rail and utility industries. Source: Seeking Alpha