CFIUS Clearance: GI Partners and ORBCOMM Inc.

Status: Clearance

Acquirer: GI Partners (undetermined)

Acquired: ORBCOMM Inc. (U.S.)

Value: $1.1 billion

Industry Tags: Telematics

On April 7, 2021, ORBCOMM Inc., a “global provider of industrial Internet of Things (IoT) and Machine-to-Machine (M2M) communication solutions that remotely track, monitor, and control fixed and mobile assets” (see ORBCOMM Inc. website, homepage), entered into a merger agreement with GI DI Orion Acquisition Inc., a Delaware corporation and affiliate of GI Partners, a private investment firm, pursuant to which ORBCOMM Inc. will become a wholly-owned subsidiary of GI DI Orion Acquisition Inc.  (ORBCOMM Inc. Form 8-K, Apr. 12, 2021, SEC Filing; see also GI Partners Press Release, Orbcomm Enters Into Agreement To Be Acquired By GI Partners, Apr. 08, 2021.)   The merger “is subject to customary closing conditions, including . . . receipt of CFIUS Approval.”  (Section 6.1(b), Agreement and Plan of Merger,  ORBCOMM Inc. Form 8-K, Ex-2.1, Apr. 12, 2021, SEC Filing.)

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