WAM is a provider of remote wireless management and control solutions for ocean transport refrigerated containers and related equipment.
The acquisition will strengthen ORBCOMM’s cold chain monitoring solutions. ORBCOMM currently provides Machine-to-Machine and Internet of Things solutions.
“WAM is a natural addition to ORBCOMM’s offerings. They are a leader in refrigerated sea container telematics supporting a strong base of customers. Their patented M2M technology and powerful software platform completes ORBCOMM’s cold chain offering, enabling us to now deliver best-in-class solutions for nearly all refrigerated asset types,” Marc Eisenberg, ORBCOMM CEO, said in a prepared statement. “Through the acquisition of WAM, we can serve a broader scope of transportation customers and access a significantly large untapped market worldwide.”
“We have had a long history of cooperation with ORBCOMM, providing refrigerated protective services, and their market leadership and expertise in refrigerated transportation makes them a great fit for WAM,” Mark Heck, Mark-It Services CEO, said in a prepared statement. “We look forward to continue working closely with ORBCOMM to provide our mutual customers around the globe with the most comprehensive, real-time refrigerated asset information available.”
ORBCOMM was advised by Near Earth LLC in this transaction. Financial terms of the deal were not disclosed, but the deal will close in early October.