ORBCOMM Acquires Inthinc Assets For Up To $60 Million

6/13/17

Quick Take

Industrial IoT (Internet of Things) company ORBCOMM (NASDAQ:ORBC) has acquired the assets of telematics company inthinc Technology Solutions for $35 million in up front consideration and up to an additional $25 million in performance-based earn-out consideration.

Inthinc has created a telematics and fleet management system designed to improve efficiency and safety while providing compliance reporting for the industries of oil & gas, mining, utilities, services, and government worldwide.

This ‘stretch deal’ for inthinc should create strategic synergies on which ORBC can capitalize over the medium-term.

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