ORBCOMM (NASDAQ: ORBC), a leading provider of ELDs and other Internet of Things (IoT) technology, is being acquired by private equity company GI Partners.
The price for ORBCOMM is $11.50 per share. That is a significant premium over the closing price Wednesday on the Nasdaq of $7.57 per share. The company’s 52-week high is $9.25 per share, recorded on Jan. 21. The roughly 52% premium over the current share price is in the ballpark of the 50% premium over the 90-day volume-weighted average share...