ORBCOMM closes $182 million buy of McLean Watson-backed SkyWave
ORBCOMM Inc (Nasdaq: ORBC) has closed its buy of SkyWave Mobile Communications, an Ottawa-based provider of satellite and satellite-cellular products and applications. The deal, which was previously valued at US$130 million, was reported by peHUB Canada in November 2014 to have an actual gross value of US$182 million. Founded in 1997, Skywave has been backed since 1999 by Canadian venture capital firm McLean Watson Capital and other investors. ORBCOMM, a U.S.-based provider of machine-to-machine solutions, said the deal adds more than 250,000 subscribers, 400 channel partners, annualized revenues of over US$60 million, and adjusted EBITDA of over US$12 million.
5 January 2015•4 mins read
