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Thursday, 08 October 2015

Mark-It Services sells WAM Technologies to ORBCOMM

Sale establishes the transportation industry’s most comprehensive provider of real-time refrigerated asset management solutions

SKILLMAN, New Jersey, October 06, 2015 – Mark-it Services Inc. (MIS), North America’s leading provider of monitoring and protective services for ocean transport refrigerated containers and cargoes, today announced that it has entered into a definitive agreement to sell the assets of its affiliate WAM Technologies (WAM) to ORBCOMM Inc. (Nasdaq: ORBC), a leading global provider of machine-to-machine (M2M) and Internet of Things (IoT) solutions.

Based in Skillman, NJ, WAM is a leading provider by market share of M2M telemetry solutions for remote location, monitoring and control of refrigerated containers and related intermodal equipment moving by land and sea on a worldwide basis. WAM’s proven technology has already been adopted and deployed globally by one of the largest container shipping companies in the world. 

“WAM is a natural addition to ORBCOMM’s offerings. They are a leader in refrigerated 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 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 of refrigerated sea container units 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, MIS 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 management solutions.”

“Mark-It’s ReeferWatch and SentientWatch intermodal asset management platforms are already integrated both with WAM’s and ORBCOMM’s telemetry systems,” added Parvez Mansuri, Chief Information Officer at MIS. “With the addition of WAM to its product portfolio, ORBCOMM will now be able to provide a wider range of telemetry solutions to our customers, and the marine and intermodal transport industry at large.”

ReeferWatch and SentientWatch are MIS’s hardware-agnostic, real-time cargo monitoring solutions, integrated with all major IoT providers in the transportation vertical. MIS currently uses these platforms to process more than 1 million reefer transactions, shipments and bookings per year, as an integral part of its service managing over 95% of North American intermodal reefer moves for all major container shipping lines worldwide.

Press release 6 October 2015

 

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