ORBCOMM Inc (Nasdaq:ORBC), a global provider of machine-to-machine (M2M) and Internet of Things (IoT) solutions, has entered into a definitive agreement to acquire substantially all the assets of WAM Technologies LLC. Skillman NJ-based WAM provides remote wireless management and control solutions for ocean transport refrigerated containers and related intermodal equipment on a global basis.
WAM’s product offering is suited to monitor the temperature and location of refrigerated containers for global shipping companies and international produce companies. It has already been deployed globally by AT&T in order to serve one of the largest shipping companies in the world.
The acquisition of WAM expands and strengthens ORBCOMM’s cold chain monitoring solutions, which include trailers, rail cars, gen-sets, and now sea containers. With the addition of WAM’s installed base, ORBCOMM becomes a leader in monitoring cargo shipments. By leveraging WAM’s incremental technology and capabilities, ORBCOMM’s potential market reach in cold chain transportation expands by more than one million additional assets worldwide, as reported by World Cargo News in November 2014.
“WAM is a natural addition to ORBCOMM’s offerings,” said Marc Eisenberg, ORBCOMM’s chief executive officer. “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. Through the acquisition of WAM, we can serve a broader scope of transportation customers and access a significantly large untapped market worldwide.”
WAM is a subsidiary of Mark-It Services, a privately held company that supports logistics companies by maintaining their assets across North America. WAM has about 40 employees throughout North America, India, and Australia. Its employees in Hyderabad, India are expected to be co-located with ORBCOMM’s software development facility in India over the coming months.
ORBCOMM was advised by Near Earth LLC on this transaction, which is expected to close in early October 2015.
For more information, access www.orbcomm.com.