Orbcomm to be acquired by private equity firm
Posted: Sun, Apr 11, 2021, 11:36 AM ET (1536 GMT)
Orbcomm announced Thursday it will be acquired by a private equity company. GI Partners, which invests in data infrastructure, is paying $11.50 in cash per share of Orbcomm stock, valuing the company at $1.1 billion. Orbcomm operates a network of satellites to provide machine-to-machine connectivity in markets like logistics. the deal is expected to close in the second half of the year, pending approval by Orbcomm shareholders and regulatory approvals.
Orbcomm announced Thursday it will be acquired by a private equity company. GI Partners, which invests in data infrastructure, is paying $11.50 in cash per share of Orbcomm stock, valuing the company at $1.1 billion. Orbcomm operates a network of satellites to provide machine-to-machine connectivity in markets like logistics. the deal is expected to close in the second half of the year, pending approval by Orbcomm shareholders and regulatory approvals.
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