Orbcomm Acquires Assets of WAM Technologies
Orbcomm Inc. agreed to acquire assets of WAM Technologies, a company that provides systems to monitor temperature and location of refrigerated ocean containers and related intermodal equipment.
Terms of the transaction were not disclosed.
Orbcomm CEO Marc Eisenberg said the purchase will expand the company’s cold-chain monitoring solutions, which include trailers, railcars and power generators.
“We can serve a broader scope of transportation customers and access a significantly large untapped market worldwide,” Eisenberg said in a statement released Oct. 6.
WAM is a subsidiary of Mark-It Services, a privately owned company based in Skillman, New Jersey, that maintains assets for logistics firms in North America.
“We have had a long history of cooperation with Orbcomm, providing refrigerated protective services,” Mark-It Services CEO Mark Heck said. “We look forward to continue working closely with Orbcomm to provide our mutual customers around the globe with the most comprehensive, real-time refrigerated asset information available.”
Among the customers that have deployed WAM’s system is AT&T. Orbcomm, based in Rochelle Park, New Jersey, has more than 1.3 million subscribers for its asset-monitoring services, including Caterpillar, C&S Wholesale Grocers, C.R. England Inc. and Wal-Mart Stores Inc.
