ORBCOMM To Acquire MobileNet, Inc.

  ORBCOMM To Acquire MobileNet, Inc.

    Expands ORBCOMM’s end-to-end solutions offering and further solidifies
             leadership in the global heavy equipment marketplace

Business Wire

ROCHELLE PARK, N.J. -- March 14, 2013

ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data communications company
specializing in Machine-to-Machine (M2M) communications and solutions, today
announced that it has entered into an agreement to acquire substantially all
of the assets of MobileNet, Inc. (MobileNet), a leader of satellite and
cellular-based telematics solutions for monitoring heavy equipment and assets
that support the rail industry as well as being a long-time ORBCOMM
value-added reseller.

The acquisition of the MobileNet business supports ORBCOMM’s growth strategy
of expanding its end-to-end solutions portfolio in key vertical markets.
Integrating MobileNet’s unique products and services will allow ORBCOMM to
directly address opportunities within the heavy equipment industry through
Original Equipment Manufacturers (OEM’s), dealers and fleet owners.

Through MobileNet’s flexible, proven telematics platform, ORBCOMM can offer
the industry a complete fleet management solution. MobileNet’s advanced web
applications, which utilize ORBCOMM’s global network connectivity, will
provide customers access to precise, near-real time equipment data on demand,
including location, engine and production hours, mileage, fuel usage,
maintenance alerts and asset security. Leveraging MobileNet’s turnkey offering
will further enhance ORBCOMM’s leadership position in services to the global
heavy equipment sector by providing customers significant operating advantages
as well as savings in development costs and faster time to market for
implementing telematics solutions in the field.

“With MobileNet’s strong customer base and proven success as a solutions
provider in this market, we believe the MobileNet product offering fits
perfectly within our strategic initiative of strengthening our end-to-end
solutions capabilities in key areas,” said Marc Eisenberg, ORBCOMM’s Chief
Executive Officer. “We have worked with the MobileNet team for many years and
look forward to having them join ORBCOMM.”

“Building on MobileNet’s advanced technology platform and ORBCOMM’s extensive
global reach, we welcome the dynamic opportunities for growth, innovation and
expansion the acquisition offers MobileNet and our customers,” said William
Purdie, MobileNet’s Founder and President. “We strongly believe that our
customers will continue to benefit from MobileNet’s high level of service and
reliability while gaining new value from ORBCOMM’s breadth of global data
communications services, engineering and customer support and enhanced
distribution channels.”

MobileNet’s current customers include Doosan North America, a world-class
construction equipment company, and leading rail companies Union Pacific, CSX
and BNSF.

The transaction is expected to close within 30 days, subject to customary
closing conditions. ORBCOMM was advised by Near Earth LLC on the transaction.

About ORBCOMM Inc.

ORBCOMM is a leading global satellite data communications company,
specializing in Machine-to- Machine (M2M) communications and solutions. Its
customers include Caterpillar Inc., Doosan Infracore America, Hitachi
Construction Machinery, Hyundai Heavy Industries, Asset Intelligence (a
division of I.D. Systems, Inc.), Komatsu Ltd., Manitowoc Crane Companies,
Inc., and Volvo Construction Equipment among other industry leaders. By means
of a global network of low-earth orbit (LEO) satellites and accompanying
ground infrastructure, ORBCOMM’s low-cost and reliable two-way data
communication services track, monitor and control mobile and fixed assets in
our core markets: commercial transportation; heavy equipment; industrial fixed
assets; marine; and homeland security. ORBCOMM based products are installed on
trucks, containers, marine vessels, locomotives, backhoes, pipelines, oil
wells, utility meters, storage tanks and other assets.

ORBCOMM is an innovator and leading provider of tracking, monitoring and
control services for the refrigerated transport market. Under its
ReeferTrak^®, GenTrak^™, and CargoWatch^™ brands, the company provides
customers with the ability to proactively monitor, manage and remotely control
their refrigerated transport assets. Additionally, ORBCOMM provides Automated
Identification System (AIS) data services for vessel tracking and to improve
maritime safety to government and commercial customers worldwide. ORBCOMM is
headquartered in Rochelle Park, New Jersey and has its network control center
in Dulles, Virginia. For more information, visit www.orbcomm.com.

About MobileNet Inc.

MobileNet was founded in 1996 to develop and market custom mobile data
solutions for the heavy equipment and railroad industries. As a pioneer in the
remote monitoring of assets, MobileNet was among the first to develop
satellite monitoring for construction equipment with its TrakPak line of
remote monitors. MobileNet’s growth and reputation are attributable to its
practice of continually providing innovative products and valued services to
its customers. For more information, visit www.mobile-net.com.

Forward-Looking Statements

Certain statements discussed in this press release constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements generally relate to ORBCOMM’s plans,
objectives and expectations for future events and include statements about
ORBCOMM’s expectations, beliefs, plans, objectives, intentions, assumptions
and other statements that are not historical facts. Such forward-looking
statements, including those concerning the ORBCOMM’s expectations, are subject
to known and unknown risks and uncertainties, which could cause actual results
to differ materially from the results, projected, expected or implied by the
forward-looking statements, some of which are beyond ORBCOMM’s control, that
may cause ORBCOMM’s actual results, performance or achievements, or industry
results, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. In
addition, specific consideration should be given to various factors described
in Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s
Discussion and Analysis of Financial Condition and Results of Operations,” and
elsewhere in ORBCOMM’s Annual Report on Form 10-K for the year ended December
31, 2011, and other documents, on file with the Securities and Exchange
Commission. ORBCOMM undertakes no obligation to publicly revise any
forward-looking statements or cautionary factors, except as required by law.

Contact:

Investors:
ORBCOMM Inc.
Robert Costantini, 703-433-6305
Chief Financial Officer
costantini.robert@orbcomm.com
or
Media:
The Abernathy MacGregor Group
Jennifer Stroud, 212-371-5999
Vice President
jcl@abmac.com
 
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