Sale establishes the transportation industry’s most comprehensive provider of real-time refrigerated asset management solutions
SKILLMAN, New Jersey, October 06, 2015 – Mark-it Services Inc. (MIS), North America’s leading provider of monitoring and protective services for ocean transport refrigerated containers and cargoes, today announced that it has entered into a definitive agreement to sell the assets of its affiliate WAM Technologies (WAM) to ORBCOMM Inc. (Nasdaq: ORBC), a leading global provider of machine-to-machine (M2M) and Internet of Things (IoT) solutions.
Based in Skillman, NJ, WAM is a leading provider by market share of M2M telemetry solutions for remote location, monitoring and control of refrigerated containers and related intermodal equipment moving by land and sea on a worldwide basis. WAM’s proven technology has already been adopted and deployed globally by one of the largest container shipping companies in the world.
“WAM is a natural addition to ORBCOMM’s offerings. They are a leader in refrigerated container telematics supporting a strong base of customers. Their patented M2M technology and powerful software platform completes ORBCOMM’s cold chain offering, enabling us to now deliver best-in-class solutions for all refrigerated asset types, ” said Marc Eisenberg, ORBCOMM’s Chief Executive Officer. “Through the acquisition of WAM, we can serve a broader scope of transportation customers and access a significantly large untapped market of refrigerated sea container units worldwide.”
“We have had a long history of cooperation with ORBCOMM, providing refrigerated protective services, and their market leadership and expertise in refrigerated transportation makes them a great fit for WAM, ” said Mark Heck, MIS Chief Executive Officer. “We look forward to continue working closely with ORBCOMM to provide our mutual customers around the globe with the most comprehensive, real-time refrigerated asset management solutions.”
“Mark-It’s ReeferWatch and SentientWatch intermodal asset management platforms are already integrated both with WAM’s and ORBCOMM’s telemetry systems, ” added Parvez Mansuri, Chief Information Officer at MIS. “With the addition of WAM to its product portfolio, ORBCOMM will now be able to provide a wider range of telemetry solutions to our customers, and the marine and intermodal transport industry at large.”
ReeferWatch and SentientWatch are MIS’s hardware-agnostic, real-time cargo monitoring solutions, integrated with all major IoT providers in the transportation vertical. MIS currently uses these platforms to process more than 1 million reefer transactions, shipments and bookings per year, as an integral part of its service managing over 95% of North American intermodal reefer moves for all major container shipping lines worldwide.
About Mark-It Services, Inc
Mark-It Services, Inc is an end-to-end solution provider for reefer monitoring and protective services, with roots that date back to 1989. Today, the company manages over 95% of all North American intermodal reefer cargo for all the major shipping lines, from In-gate Origin to Out-gate Destination. The company’s web-based and field support operations provide clients with a full management package incorporating end-to-end reefer tracking, monitoring, fuelling and M&R support. The Mark-It ReeferWatch software platform currently handles more than 1 million reefer transactions, bookings and shipments annually.
For more information, visit www.mark-itservices.com
About WAM Technologies
WAM Technologies helps companies manage transport assets on the move with powerful wireless M2M connectivity solutions that enable remote global tracking, monitoring and control of refrigerated, intermodal and other ground transportation assets.
WAM’s M2Connect platform pairs advanced transport telematics with on-demand cloud software to give international and domestic users real-time insight into the status of their equipment fleets, driving better asset utilisation, less cargo damage and lower operating costs. WAM has particular expertise in end-to-end cold chain transport asset management, providing industry-leading solutions for remote visibility and control of refrigerated containers, trailers and gensets.
About ORBCOMM Inc.
ORBCOMM Inc. (Nasdaq: ORBC) is a leading global provider of Machine-to-Machine (M2M) communication solutions and the only commercial satellite network dedicated to M2M. ORBCOMM’s unique combination of global satellite, cellular and dual-mode network connectivity, hardware, web reporting applications and software is the M2M industry’s most complete service offering. ORBCOMM solutions are designed to remotely track, monitor, and control fixed and mobile assets in core vertical markets including transportation & distribution, heavy equipment, industrial fixed assets, oil & gas, maritime, mining and government.
With nearly 20 years of innovation and expertise in M2M, ORBCOMM has more than 1.3 million subscribers with a diverse customer base including premier OEMs such as Caterpillar Inc., Doosan Infracore America, Hitachi Construction Machinery Co., Ltd., John Deere, Komatsu Ltd., and Volvo Construction Equipment, as well as end-to-end solutions customers such as C&S Wholesale, Canadian National Railways, CR England, Hub Group, KLLM Transport Services, Marten Transport, Swift Transportation, Target, Tropicana, Tyson Foods, Walmart and Werner Enterprises