Orbcomm, a major provider of ELDs, has been hit by a ransomware attack, impacting its key product offering.
ORBCOMM, a provider of electronic logging devices and IoT technologies, announced carrier Marten Transport is retrofitting its fleet with ORBCOMM’s dual-mode asset-tracking devices.
The telematics, ELD and satellite provider is getting sold for a 50% premium. Even that is less than at least one analyst saw as its value.
The sale price is $11.50 per share, about 150% more than the closing price on Wednesday.
The Rochelle Park, New Jersey-based company posted revenue of $63.8 million during the fourth quarter, an 8% decline from the same period last year.
In today’s edition of The Daily Dash, the U.S. DOT has laid out its strategic plan for safely deploying autonomous trucks and passenger vehicles. Plus, LTL volumes stayed strong in December, and XPO names the head of its logistics spinoff.
ORBCOMM’s privately transacted $200 million refinancing means the ELD provider is entering 2021 with a markedly different balance sheet than in recent years.
Orbcomm Inc. reported a loss of $5.5M in its third quarter and a net loss of $0.07 per share. The company had revenue of $61.7M for the quarter.
Tom Williams has led companies through initial public offerings and acquisitions.
Orbcomm operates in transportation and distribution, heavy equipment, industrial fixed assets, oil and gas, maritime, mining, and government.
ORBCOMM lowers full-year 2020 guidance given recent coronavirus developments.
Orbcomm, Inc. (NASDAQ: ORBC) sees its shares sell off after its quarterly report. The company’s transition to subscription service, and the accompanying delay in revenue, appears to be weighing on investor sentiment.
Freight Alley in Chattanooga was the scene on the afternoon of February 21, when executives from FreightWaves, Nodal Exchange, DAT and K-Ratio presented the Trucking Freight Futures roadshow. Trucking Freight Futures debut on the Nodal Exchange on March 29.
Telematics provider seeks to integrate data into easily consumable format for driver coaching.
Blockchain solutions, improved interfaces, artificial intelligence and a tool for the intermodal business.
The Drivewyze weigh in motion software will come built into Orbcomm devices. Separately, the company will launch a new free data analysis service for their customers.
If there was one obvious theme of the second demo period at FreightWaves’ Transparency18 event on Tuesday, it was blockchain. Six of the nine presenters in the session demonstrated solutions that involved blockchain technology.
Today, most assets are still dark, dumb and disconnected. They do their job, but they can’t tell anyone how they are doing, what they are doing and where they are doing it. ORBCOMM believes it’s time for that to change.
Leading machine-to-machine (M2M) and Internet of Things (IoT) provider Orbcomm has acquired Blue Tree Systems, a provider of compliance solutions in multiple countries, including the U.S.
