Orbcomm to be taken private for about $909 million
By Reuters Staff 1 Min Read (Reuters) -Network gear maker Orbcomm Inc said on Thursday it would be taken private by private equity firm GI Partners for about $909 million. As per the deal, Orbcomm stockholders will receive $11.50 per share in cash, representing a premium of about 52% to the company’s closing share price on Wednesday. The deal is valued at about $1.1 billion, including net debt, and is expected to close in the second half of 2021. Orbcomm makes products such as telematics devices, modems and cellular wireless SIMs. GI Partners is an investor in data infrastructure businesses...
Source: reuters.com