Orbcomm Buying Alanco’s Asset-monitoring Business
Mobile satellite data services provider Orbcomm has reached an agreement to purchase the StarTrak Systems asset-monitoring business from Alanco Technologies, the companies announced Feb. 24.
Financial terms of the transaction were not disclosed, but Alanco will take a stake in Orbcomm as part of the deal, Robert R. Kauffman, chairman and chief executive of Scottsdale, Ariz.-based Alanco, said in a prepared statement.
Orbcomm of Fort Lee, N.J., operates a constellation of low-orbiting satellites for global messaging services and other machine-to-machine data communications. StarTrak provides tracking, monitoring and management services to the refrigerated transport market.
“We believe the StarTrak business offers growth opportunities for Orbcomm with its transferable technology that can be applied across a number of vertical markets and build on benefits from our new constellation,” Orbcomm Chief Executive Marc Eisenberg said in a prepared statement. “In addition, we can leverage the Orbcomm infrastructure to run and manage the business to reduce costs and add benefits to customers.”
Orbcomm is planning to replace its current satellite constellation with 18 second-generation spacecraft scheduled to begin launching late this year.