Orbcomm Buys Wam Technologies, Expands into Maritime M2M
[Via Satellite 10-06-2015] Orbcomm is looking to expand its presence in maritime cold chain monitoring through the acquisition of Wam Technologies, an affiliate of Mark-It Services, in Skillman, NJ. The Machine-to-Machine (M2M)/Internet of Things (IoT) satellite operator announced Oct. 6 its intent to acquire substantially all the assets of Wam Technologies through a transaction that is expected to close this month.
Wam provides remote wireless management and control solutions for ocean transport refrigerated containers and related intermodal equipment on a global basis. Orbcomm, already active in monitoring trailers, rail cars and gensets, will expand into sea containers through the acquisition. According to the company, this expands Orbcomm’s potential market reach in cold chain transportation by more than one million additional assets.
Wam has approximately 40 employees throughout North America, India and Australia. The Wam employees located in Hyderabad, India are expected to be colocated with Orbcomm’s software development facility in India over the coming months. Near Earth advised Orbcomm on this transaction.