Connect with us

Business

News Alert: ORBCOMM being acquired by private equity firm in $ 1.1 billion deal

Avatar

Published

on


ORBCOMM (NASDAQ: ORBC), a leading provider of ELD and other Internet of Things (IoT) technologies, is in the process of being acquired by private equity firm GI Partners.

ORBCOMM’s price is $ 11.50 per share. That’s a significant premium over Wednesday’s closing price on the Nasdaq of $ 7.57 per share. The company’s 52-week high is $ 9.25 per share, recorded on Jan.21. The approximately 52% premium over the current share price is within the average of the 50% premium over the 90 day volume weighted average share price.

The total value of the transaction was estimated at $ 1.1 billion, including debt. Last October, ORBCOMM completed a debt refinancing for $ 250 million in new debt.

On the company’s fourth quarter 2020 conference call in February, CEO Marc Eisenberg said the company has no real plans to merge and acquire this year. In the last few years, maybe, but not this year. The question was asked by an analyst as to the possibility of ORBCOMM making acquisitions, but not being acquired.

GI is based in San Francisco. He described himself as having raised $ 26 million and invested primarily in healthcare, information technology and software.

FreightWaves will have more coverage on this story later Thursday.

More articles by John Kingston

Knight Swift Announces Salary Increase; XPO has a lot of jobs to fill

We Receive Letters: AB5 Candidates Interpret Cal Cartage To Federal Judges

Trucking Lawyer: Passage of California Proposal Strengthens AB5 Exemption Case



What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]