Mark-It sells WAM to ORBCOMM
October 21, 2015
Ocean refrigeration monitoring company Mark-It Service is selling its M2M telemetry subsidiary WAM Technologies to IoT and M2M specialist ORBCOMM. The acquisition will extend ORBCOMM’s product range and market reach in oceanic refrigerated containers and intercontinental cold chain technologies.
Based in Skillman, New Jersey, WAM is a leading provider by market share of remote wireless management and control solutions for ocean transport refrigerated containers and related intermodal equipment on a global basis. The company has approximately 40 employees throughout North America, India and Australia. The WAM employees located in Hyderabad, India are expected to be co-located with ORBCOMM’s software development facility in India over the coming months.
WAM’s product offering is designed to monitor the temperature and location of refrigerated containers for global shipping companies and international produce companies. WAM’s products have been deployed globally by AT&T in order to serve one of the largest shipping companies in the world.
The acquisition of WAM is designed to expand and strengthen ORBCOMM’s cold chain monitoring solutions, which include trailers, rail cars and gensets. With the purchase of WAM, ORBCOMM’s cold chain monitoring will now also include sea containers.
According to ORBCOMM, the addition of WAM’s installed base makes the company the clear leader in monitoring cargo shipments. By leveraging WAM’s incremental technology and capabilities, ORBCOMM’s potential market reach in cold chain transportation expands by more than one million additional assets worldwide as reported by World Cargo News in November of 2014.
“WAM is a natural addition to ORBCOMM’s offerings. They are a leader in refrigerated sea container telematics supporting a strong base of customers. Their patented M2M technology and powerful software platform completes ORBCOMM’s cold chain offering, enabling us to now deliver best-in-class solutions for nearly all refrigerated asset types,” said Marc Eisenberg, ORBCOMM’s Chief Executive Officer. “Through the acquisition of WAM, we can serve a broader scope of transportation customers and access a significantly large untapped market worldwide.”
“We have had a long history of cooperation with ORBCOMM, providing refrigerated protective services, and their market leadership and expertise in refrigerated transportation makes them a great fit for WAM,” said Mark Heck, Mark-It Services, Inc.’s Chief Executive Officer. “We look forward to continue working closely with ORBCOMM to provide our mutual customers around the globe with the most comprehensive, real-time refrigerated asset information available.”