Wednesday, October 18, 2006

ORBCOMM Launches IPO

ORBCOMM, a global satellite data communications company focused on providing Machine to Machine (M2M) communications, completed its initial public offering (IPO) of 11,153,800 shares of common stock at an estimated offering price range of $12 to $14 per share. Shares are listed on the Nasdaq Global Market under the symbol "ORBC".

http://www.orbcomm.com/

  • ORBCOM operates a global network of 30 low-earth orbit (LEO) satellites and accompanying ground infrastructure. Its services track, monitor and control mobile and fixed assets in four core markets including commercial transportation, heavy equipment, industrial fixed assets, and marine/homeland security. The company's tracking devices are installed on trucks, containers, marine vessels, locomotives, backhoes, pipelines, oil wells, utility meters, storage tanks and other assets.

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