ORBCOMM (ORBC) to be Acquired by GI Partners for $1.1 Billion, $11.50/sh
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ORBCOMM Enters into Agreement to be Acquired by GI Partners
April 8, 2021 8:00 AM EDTROCHELLE PARK, N.J., April 08, 2021 (GLOBE NEWSWIRE) -- ORBCOMM Inc. (Nasdaq: ORBC), a global provider of Internet of Things (IoT) solutions, today announced that it has entered into a definitive agreement to be acquired by GI Partners, a leading US-based investor in data infrastructure businesses, in an all-cash transaction that values ORBCOMM at approximately $1.1 billion, including net debt.
Under the terms of the agreement, ORBCOMM stockholders will receive $11.50 in cash per outstanding share of common stock upon closing of the transaction, representing a premium of approximately... More
