Stellar Acquisition Reinforces Quake Global's Position As the
Leading LEO Satellite Modem Manufacturer
Aug. 9, 2010 (Business Wire) -- ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data communications company focusing on two-way Machine-to-Machine (M2M) communications and a leading provider of space-based Automatic Identification System (AIS) services, today announced that it has entered into an agreement to sell the assets of Stellar Satellite Communications LTD., a wholly-owned subsidiary that sells satellite hardware, to Quake Global, Inc., a leading manufacturer of M2M based satellite and terrestrial communicators.
Through this acquisition and the planned continuation of Stellar’s operations in Dulles, Virginia, QUAKETM will establish an East Coast office. This will enable QUAKE, whose headquarters are in San Diego, to expand and improve its customer service and sales efforts. Stellar’s strong presence products tailored to the transportation and trailer tracking markets will open new market segments for QUAKE.
“Adding Stellar’s catalog of ORBCOMM modems to the already extensive line of QUAKE communicators will strengthen our long-standing relationship with ORBCOMM and will reinforce QUAKE’s position as the leader among satellite M2M device manufacturers,” said Polina Braunstein, President & CEO of Quake Global. “The integration of the personnel and engineering talents of these two very experienced companies that were pioneers in the manufacture of satellite subscriber communicators will work to develop a new generation of smart modems poised to take full advantage of the next generation of satellites that are on the near horizon.”
“We highly value our long-standing partnership with Quake Global and believe it is the best fit for Stellar and its customers,” said Marc Eisenberg, CEO of ORBCOMM. “QUAKE’s renowned track record for developing cutting edge modem technology and for supplying highly reliable, industrial grade hardware to the marketplace, have helped to propel ORBCOMM into the dynamic global satellite network it is today. Stellar’s leadership position in transportation and cargo tracking is an excellent complement to QUAKE’s success in heavy equipment and OEM telematics.”
About Quake Global, Inc.
Founded in 1998, Quake Global designs and manufactures industrial M2M modems and controllers for advanced data acquisition, machine, process and motion control and asset monitoring through satellite, cellular, GPS and other emerging technologies. QUAKE is the only manufacturer of network agnostic modems, providing its customers with a unified communications protocol for data coverage across multiple global satellite and terrestrial networks from a single device. From its headquarters in San Diego and through a network of international distributors, the company provides products and design services to OEMs and other companies in the heavy equipment, aviation, maritime, and trucking industries, as well as in utility, gas & oil, and rail applications. QUAKE is proud of its world-wide reputation for providing high-quality subscriber communicators for BELL, BRITISH PETROLEUM, CATERPILLAR, DOOSAN, FARIA, FLEET MANAGEMENT SOLUTIONS, HITACHI, HYUNDAI, KOMATSU, SUMITOMO, VOLVO TRUCKS and VOLVO CONSTRUCTION, among others. For more information, please visit www.quakeglobal.com
About ORBCOMM Inc.
ORBCOMM is a leading global satellite data communications company, focused on Machine-to-Machine (M2M) communications. Its customers include Caterpillar Inc., Doosan Infracore America, Hitachi Construction Machinery, Hyundai Heavy Industries, Asset Intelligence a division of I.D. Systems, Inc., Komatsu Ltd., Manitowoc Crane Companies, Inc., and Volvo Construction Equipment among other industry leaders. ORBCOMM is the leading commercial provider of global AIS data from space, with users that include the U.S. Coast Guard, U.S. Navy, U.S. Department of Transportation, U.S. Customs and Border Protection, and IHS Fairplay, among other government and commercial organizations. By means of a global network of low-earth orbit (LEO) satellites and accompanying ground infrastructure, ORBCOMM’s low-cost and reliable two-way data communication services track, monitor and control mobile and fixed assets in four core markets: commercial transportation; heavy equipment; industrial fixed assets; and marine/homeland security. ORBCOMM based products are installed on trucks, containers, marine vessels, locomotives, backhoes, pipelines, oil wells, utility meters, storage tanks and other assets. ORBCOMM is headquartered in Fort Lee, New Jersey and has its network control center in Dulles, Virginia. For more information, visit www.orbcomm.com.
Forward-Looking Statements
Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, objectives and expectations for future events and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Such forward-looking statements, including those concerning the Company’s expectations, are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from the results, projected, expected or implied by the forward-looking statements, some of which are beyond the Company’s control, that may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include but are not limited to: the impact of global recession and continued worldwide credit and capital constraints; substantial losses we have incurred and expect to continue to incur; demand for and market acceptance of our products and services and the applications developed by our resellers; loss or decline or slowdown in the growth in business from Asset Intelligence, a subsidiary of I.D. Systems, Inc. (“AI”) (formerly a division of General Electric Company (“GE” or “General Electric”)), other value-added resellers or VARs and international value-added resellers or IVARs; loss or decline or slowdown in growth in business of any of the specific industry sectors the Company serves, such as transportation, heavy equipment, fixed assets and maritime; litigation proceedings; technological changes, pricing pressures and other competitive factors; the inability of our international resellers to develop markets outside the United States; market acceptance and success of our Automatic Identification System (“AIS”) business; the inability to provide AIS service due to the in-orbit satellite failure of the remaining two quick-launch satellites; satellite launch and construction delays and cost overruns of our next-generation satellites; in-orbit satellite failures or reduced performance of our existing satellites; the failure of our system or reductions in levels of service due to technological malfunctions or deficiencies or other events; our inability to renew or expand our satellite constellation; political, legal regulatory, government administrative and economic conditions and developments in the United States and other countries and territories in which we operate; changes in our business strategy; and the other risks described in our filings with the Securities and Exchange Commission. Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For more detail on these and other risks, please see our “Risk Factors” section in our annual report on Form 10-K for the year ended December 31, 2009.
