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GI Partners Purchases Orbcomm
GI Partners, a US-based investor in data infrastructure businesses, has agreed to acquire
Orbcomm Inc., a global provider of Internet of Things services, in an all-cash transaction that values Orbcomm at approximately $1.1 billion, including net debt.
“This transaction will provide immediate and substantial value to Orbcomm stockholders, reflecting the tremendous commitment and work of our employees and stakeholders. The partnership with GI Partners will provide us the opportunity to rapidly advance our long-term strategy,” said
Marc Eisenberg, Orbcomm’s chief executive officer. “GI Partners has an established track record of working with companies to accelerate growth, and we look forward to continuing to drive innovation, providing world-class service to our global customers and expanding our market share in the industrial IoT as a privately held company.”
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AE Industrial Partners Hires Director
AE Industrial Partners LP, a private equity firm specializing in aerospace, defense, space & government services, power generation, and specialty industrial markets, has hired
Mallika Gummalla to the firm as a director. In this role, she will be primarily responsible for the evaluation of emerging technology themes and the management of industrial sourcing networks for new investments. Previously, she was a business development director and sales executive for the New England territory at
Airtech USA.
“Mallika’s unique background makes her particularly well qualified for her role at AEI – a strong technical background, supported by a track record of innovation and start-up development,” said
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