ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data communications
company focused on two-way Machine-to-Machine (M2M) communications,
announced that it has completed a global AIS distribution
agreement for commercial purposes with Lloyd’s Register – Fairplay (LRF).
LRF is the leading provider of insight and information in the commercial
shipping sector and operates a global network of terrestrial based AIS
receivers, which is used to validate the position of the world’s
merchant fleet. The addition of satellite sourced information will
transform LRF’s capability to provide unrivalled coverage that will
significantly enhance systems, which are provided to government and
other appropriate organizations increasing safety, security, and
efficiency into the maritime supply chain. The agreement with LRF
includes a minimum annual license fee to ORBCOMM and grants access to
ORBCOMM’s global satellite AIS offerings commencing in January 2009.
“ORBCOMM is excited to have LRF as the first global distributor of AIS
data provided by our quick-launch satellite network,” said Marc
Eisenberg, Chief Executive Officer. “These recently-launched satellites
provide the only commercially available global satellite AIS data set,
which will provide a distinct competitive advantage to LRF as it
continues to grow its leading position within the AIS market.
Additionally, the position of LRF within IHS Inc., will provide
opportunities for ORBCOMM to partner with other IHS operations to offer
a broad array of maritime information to potential customers.”
“AIS data, when used appropriately, is of significant benefit to both
government and industry,” said Richard Silk, Joint Managing Director of
Lloyd’s Register – Fairplay. “The fusion of both terrestrial and
satellite derived AIS data provides an unrivalled view of the global
maritime domain. The matching of timely positional information with the
comprehensive ship, port, company and news databases maintained by
Lloyd’s Register – Fairplay, provides our customers with the insight and
information they need. Access to timely, accurate information is
essential in enhancing both safety and security and creating efficiency.”
About ORBCOMM Inc.
ORBCOMM is a leading global satellite data communications company,
focused on Machine-to-Machine (M2M) communications. Its customers
include Caterpillar Inc., General Electric, Hitatchi Construction
Machinery, Komatsu Ltd., and Volvo Group among other industry leaders.
By means of a global network of low-earth orbit (LEO) satellites and
accompanying ground infrastructure, ORBCOMM’s low-cost and reliable
two-way data communications products and services track, monitor and
control mobile and fixed assets in four core markets: commercial
transportation; heavy equipment; industrial fixed assets; and
marine/homeland security. The Company's products are installed on
trucks, containers, marine vessels, locomotives, backhoes, pipelines,
oil wells, utility meters, storage tanks and other assets. ORBCOMM is
headquartered in Fort Lee, New Jersey and has a network control center
in Dulles, Virginia. For more information, visit www.orbcomm.com.
About
Lloyd's Register - Fairplay
Lloyd's Register - Fairplay was formed in July 2001 from a merger of
Lloyd's Register's Maritime Information Publishing Group and Prime
Publications Ltd. This merger brought together the two largest maritime
database providers of ship, company, port and other related information.
In March 2008 Prime Publications Limited was acquired by IHS Inc. (NYSE:
IHS, www.ihs.com)
effectively making IHS a 50-50 partner in Lloyd's Register – Fairplay.
For more information, visit www.LRFairplay.com
Forward-Looking Statements
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
operations and are based upon management’s current estimates and
projections of future results or trends. Although we believe that our
plans and objectives reflected in or suggested by these forward-looking
statements are reasonable, we may not achieve these plans or objectives.
Our actual results may differ materially from those projected as a
result of certain risks and uncertainties. These risks and uncertainties
include, but are not limited to: the substantial losses we have incurred
and expect to continue to incur; demand for and market acceptance of our
products and services and the applications developed by our resellers;
loss or decline or slowdown in business from the Asset Intelligence
division of General Electric Company (“GE”), other value-added
resellers, or VARs, and international value-added resellers, or IVARs;
loss or decline or slowdown in growth in business of any of the specific
industry sectors the Company serves, such as transportation; litigation
proceedings; technological changes; pricing pressures and other
competitive factors; the inability of our international resellers to
develop markets outside the United States; satellite launch failures,
satellite launch and construction delays and cost overruns and in-orbit
satellite failures or reduced performance; the failure of our system or
reductions in levels of service due to technological malfunctions or
deficiencies or other events; our inability to renew or expand our
satellite constellation; financial market conditions and the results of
financing efforts; political, legal regulatory, governmental,
administrative and economic conditions and developments in the United
States and other countries and territories in which we operate; the
impact of a global recession and continued worldwide credit and capital
constraints; changes in our business strategy; and the other risks
described in our filings with the Securities and Exchange Commission.
Unless required by law, we undertake no obligation to update or revise
any forward-looking statements, whether as a result of new information,
future events or otherwise.
