Orbcomm
Goes to Number Two Auction Bidder
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A
group, operating under the name International Licensees LLC, is set
to take control of Orbcomm’s assets in a transaction worth
approximately US$13 million. The original winner of the Orbcomm
auction, Advanced Communications Technologies Inc., Irvine,
California, was unable to close its US$14.25 million bid. Investors
in International Licensees include Orbcomm service providers in
Europe and Asia and at least two investment firms. Further details
about the partnership will be released after the transaction is
completed.
 Orbital
Sciences Corp is set to own a minority stake in the satellite
company. After the
transaction closes, Teleglobe Inc., Montreal, will no longer have a
role in the company. Orbcomm will retain its name and continue to
operate from offices in Dulles, Virginia.
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