[Via Satellite 01-05-2015] Orbcomm has completed the acquisition of SkyWave Mobile Communications, the largest (Machine-to-Machine) M2M service provider on the Inmarsat global L-band satellite network. Based in Ottawa, Canada, SkyWave adds more than 250,000 subscribers, 400 channel partners, annualized revenues of more than $60 million and Adjusted EBITDA of over $12 million.
SkyWave’s distribution channels in South America, Asia and the Middle East, along with Inmarsat’s support, provide Orbcomm with a broader global distribution. The addition of SkyWave’s higher bandwidth, low-latency satellite products and services that leverage the IsatDataPro (IDP) technology, which is now jointly owned by Orbcomm and Inmarsat, also further expands the breadth of the company’s solutions portfolio.
Raymond James served as financial advisor to Orbcomm on this transaction, and William Blair & Company served as financial advisor to SkyWave.