Asset tracking and internet of things (IoT) systems provider Orbcomm Inc. has acquired the vehicle telematics systems vendor inthinc Inc. and plans to expand into the vehicle fleet management sector, the company said today.
Rochelle Park. N.J.-based Orbcomm sells systems that can improve visibility and efficiency through machine-to-machine (M2M) and industrial IoT platforms for customers in the transportation, supply chain, and warehousing and inventory sectors, as well as heavy equipment, maritime, natural resources, and government, the company says.
Buying Salt Lake City-based inthinc allows Orbcomm to extend those products to customers with large commercial vehicle fleets, the company said. A long-time customer of Orbcomm's wireless data services, inthinc provides vehicle telematics solutions that can improve driver safety, efficiency, regulatory compliance, and workforce optimization through the two-way integration of in-vehicle devices, smart mobile devices, web applications, and data management services, inthinc says. https://www.inthinc.com
Terms of the deal were not disclosed. Inthinc CEO Todd Follmer will join Orbcom as senior vice president of fleet management.
Inthinc's products also support the emerging electronic logging device (ELD) mandate from the Federal Motor Carrier Safety Administration (FMCSA), which will require companies to replace drivers' paper log books with electronic "Hours of Service" applications in late 2017, the company said.
"With a superior portfolio of telematics solutions, inthinc provides a solid entry point for Orbcomm into the vehicle fleet management market. Inthinc's offering complements and strengthens our existing transportation and heavy equipment product portfolio, allowing our customers to access a broader set of asset monitoring solutions," Orbcomm CEO Marc Eisenberg said in a release. "By adding incremental vertical markets and telematics capabilities, the acquisition of inthinc further solidifies Orbcomm's position as a leading full-service solution provider in the industrial Internet of Things."
