|
|
News Breaks
|
December 28, 2011
|
| 08:31 EDT |  | ORBC, PAR |
| theflyonthewall.com: | ORBComm to acquire Par Tech unit for approx. $6M at closing | | ORBCOMM (ORBC) and PAR Technology (PAR) announced that they have entered into a definitive agreement under which ORBCOMM will acquire the assets of PAR’s subsidiary, PAR Logistics Management Systems. PAR LMS is a leading provider of advanced solutions for monitoring transport assets and cargo in the transportation and distribution industries. Under the terms of the transaction, ORBCOMM will acquire PAR LMS for approximately $6M at closing, comprised of cash and common stock, plus the potential of up to $4M in additional consideration based on achieving specific sales targets. The transaction is expected to close in mid-January 2012, subject to customary closing conditions. The transaction will add to ORBCOMM’s revenue growth and is expected to be accretive to ORBCOMM’s important operating metric, adjusted EBITDA, by the end of 2012. ORBCOMM expects to realize benefits and synergies from the combined businesses in service delivery, device manufacturing, and other operating costs. :theflyonthewall.com |
|
|
News For ORBC;PAR From The Last 14 Days Check below for free stories on ORBC;PAR the last two weeks.
| Sign up for a free trial to see the rest of the stories you've been missing. |
There are no results for these search parameters.
|
|
|
|
