News – US – GI partners buy Orbcomm – Truck News

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Orbcomm was acquired by GI Partners, a US Company to invest in data infrastructure company for $ 1 billion

The electronic logging device (ELD) maker says the acquisition will allow it to increase investments in sales, marketing and technology development and accelerate growth It will also give it additional flexibility as a privately owned company

“The partnership with GI Partners gives us the opportunity to advance our long-term strategy quickly,” said Marc Eisenberg, Chief Executive Officer of Orbcomm. “GI Partners has a long history of working with companies to accelerate growth We look forward to driving innovation further, providing world-class service to our global customers, and expanding our market share in industrial IoT as a privately held company ”

“Orbcomm has a long history of innovation, providing mission-critical services to customers across the global logistics landscape and in a variety of other industries,” said Mark Prybutok, Managing Director of GI Partners to drive the business forward as IoT use cases evolve and grow ”

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ORBCOMM, GI Partners, NASDAQ: ORBC, stock, private equity firm, Nasdaq

News – USA – GI partners buy Orbcomm – Truck News
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Source: https://www.trucknews.com/mobile-and-it/gi-partners-to-buy-orbcomm/1003150278/