ORBCOMMInc. inked a definitive agreement to acquire Johannesburg-basedSkygistics (PTY) Ltd. and its South Africanand Australian subsidiaries.
The deal, terms of which were not disclosed, is in line withORBCOMM's long-term strategy to become a leading global, full-service provider inthe Internet of Things, ORBCOMM CEO Marc Eisenberg said in an April 12 newsrelease. The deal expands the distribution of ORBCOMM products in IoT marketsincluding South Africa and 22 other African nations.
Skygistics has over 40 employees and offers satellite andcellular connectivity options and telematics solutions focused on management ofremote and mobile assets. Skygistics is a distributor of satellite connectivityproducts from ORBCOMM subsidiary SkyWave.
The transaction is expected to close in May, subject tocustomary closing conditions. ORBCOMM was advised by Near Earth LLC.