Orbcomm, a global provider of machine-to-machine (M2M) and Internet of Things (IoT) systems, has acquired the assets of inthinc. Salt Lake City-based inthinc provides fleet management, telematics and driver safety systems to a broad range of industrial enterprises through two-way integration of in-vehicle devices, smart mobile devices, web applications and data management services.
A long-time customer of Orbcomm’s wireless data services, inthinc has more than 100 customers around the world who operate large commercial vehicle fleets. In addition, inthinc offers applications that support the emerging ELD mandate regulations from the Federal Motor Carrier Safety Administration.
The company has a strong market presence with energy companies who use inthinc’s technology to manage driver behavior and vehicles serving the North American exploration and production market. Through the acquisition of inthinc, Orbcomm will expand inthinc’s core telematics services to its existing transportation and heavy equipment markets and broaden inthinc’s global footprint through its distribution channels.
Many of inthinc’s customers operate in remote regions supporting industrial facilities and utilize its dual-mode satellite and cellular product offerings.
“With a superior portfolio of telematics solutions, inthinc provides a solid entry point for Orbcomm into the vehicle fleet management market,” said Marc Eisenberg, Orbcomm’s chief executive officer.
“We believe the increased scale in customer service, installation, engineering, sales, marketing, operations, and supply chain that Orbcomm offers to inthinc will support our immediate growth objectives,” said Todd Follmer of inthinc, Inc., who is joining Orbcomm as senior vice president of fleet management.
Orbcomm was advised by Raymond James on this transaction.