ORBCOMM today announced that it has entered into a definitive agreement to acquire substantially all the assets of WAM Technologies LLC (WAM), an affiliate of Mark-It Services, Inc. Based in Skillman, NJ, WAM is a leading provider by market share of remote wireless management and control solutions for ocean transport refrigerated containers and related intermodal equipment on a global basis.
WAM’s product offering is uniquely suited to monitor the temperature and location of refrigerated containers for global shipping companies and international produce companies. WAM’s solution has already been deployed globally by AT&T in order to serve one of the largest shipping companies in the world.
The acquisition of WAM expands and strengthens ORBCOMM’s industry-leading cold chain monitoring solutions, which include trailers, rail cars, gensets and now sea containers. With the addition of WAM’s installed base, ORBCOMM becomes the clear leader in monitoring cargo shipments. By leveraging WAM’s incremental technology and capabilities, ORBCOMM’s potential market reach in cold chain transportation expands by more than one million additional assets worldwide as reported by World Cargo News in November of 2014.
ORBCOMM’s Chief Executive Officer, Marc Eisenberg said, “WAM is a natural addition to ORBCOMM’s offerings. They are a leader in refrigerated sea container telematics supporting a strong base of customers. Their patented M2M technology and powerful software platform completes ORBCOMM’s cold chain offering, enabling us to now deliver best-in-class solutions for nearly all refrigerated asset types. Through the acquisition of WAM, we can serve a broader scope of transportation customers and access a significantly large untapped market worldwide.”
For more information, please Read the News Release.