ORBCOMM ADDS DATA ANALYTICS CAPABILITIES TO
ITS INDUSTRIAL IOT SOLUTIONS
Enables global customers to gain greater business insights to optimize their operations
Rochelle Park, NJ, August 8, 2018 - ORBCOMM Inc. (Nasdaq: ORBC), a global provider of Machine-to-Machine (M2M) and Internet of Things (IoT) solutions, today announced that it has released a new Cloud-based analytics service that leverages ORBCOMM's extensive telematics expertise and industry-leading portfolio of IoT solutions to provide greater insights into the operations of its customers' enterprises. With ORBCOMM's new analytics offering, its global customers can extract valuable, real-time information from their asset-based data to determine patterns and predict future outcomes and trends, significantly improving operational efficiency and driving better business results.
ORBCOMM's analytics service is focused on the transportation & logistics, supply chain and heavy equipment markets, where the Company has deep industry expertise and domain knowledge. While ORBCOMM's telematics solutions provide real-time operational and transaction data for customers in these industries as well as a good proxy for their assets' behavior, the new analytics Cloud service will provide more in-depth descriptive, predictive and prescriptive results to optimize customers' operations. Through this new offering, ORBCOMM will deliver robust analytics services cost-effectively and at high speed, resulting in broader strategic benefits and long-term ROI for its customers.
ORBCOMM has identified a number of opportunities for its analytics service that provide industry benchmark comparisons and statistical applications applied to machine, logistical and conditional behaviors. Customer use case examples include refrigerated transport operational performance, operational cycle and dwell time management, condition delivery management, fleet driver performance, predictive machine breakdown and shutdown, preventative maintenance planning, and business optimization. With the potential breadth of impactful business intelligence opportunities within its core markets, ORBCOMM's analytics Cloud service is expected to further differentiate the Company as a leading industrial IoT solutions provider.
"ORBCOMM continues to exemplify leadership and innovation in industrial IoT by redefining what it means to be an end-to-end IoT solutions provider with the addition of our new analytics Cloud service," said Marc Eisenberg, Chief Executive Officer of ORBCOMM Inc. "By responding to customer demand for more sophisticated business intelligence applications, ORBCOMM has launched a comprehensive analytics platform that can transform asset data into usable, ROI-driven information to help customers improve performance and efficiency and make better business decisions."
ORBCOMM has licensed production-hardened core technology and hired a world-class team of industry experts to launch and distribute its data analytics service, which is now commercially available. ORBCOMM's complete IoT solutions offering and industry experience combined with ground-breaking analytics tools and technology make it easy for customers to harness the best of open source innovation while achieving operational readiness at any scale.
For its analytics business offering, ORBCOMM was advised by Momenta Partners, leading specialists for growth, talent and investment in the connected industries.
About ORBCOMM Inc.
ORBCOMM (Nasdaq: ORBC) is a global leader and innovator in the industrial Internet of Things, providing solutions that connect businesses to their assets to deliver increased visibility and operational efficiency. The company offers a broad set of asset monitoring and control solutions, including seamless satellite and cellular connectivity, unique hardware and powerful applications, all backed by end-to-end customer support, from installation to deployment to customer care. ORBCOMM has a diverse customer base including premier OEMs, solutions customers and channel partners spanning transportation, supply chain, warehousing and inventory, heavy equipment, maritime, natural resources, and government. For more information, visit www.orbcomm.com.
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 our plans, objectives and expectations for future events and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Such forward-looking statements, including those concerning the Company'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 the Company's control, that may cause the Company'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 our Annual Report on Form 10-K, and other documents, on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise any forward-looking statements or cautionary factors, except as required by law.
Aly Bonilla, VP of Investor Relations
For Trade Media:
Sue Rutherford, VP of Marketing
More Info: http://www.orbcomm.com