PAR Technology to Focus on Hospitality and Government
Strengthens ORBCOMM’s Market Leadership in Providing Transport Solutions and Ability to Deliver Advanced Products to a Broader Customer Base
Fort Lee, NJ; New Hartford, NY – December 28, 2011 – ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data communications company focused on two-way Machine-to-Machine (M2M) communications, and PAR Technology Corporation (NYSE: PAR), a leading provider of hospitality technology and services, today announced that they have entered into a definitive agreement under which ORBCOMM will acquire the assets of PAR’s subsidiary, PAR Logistics Management Systems (PAR LMS). PAR LMS is a leading provider of advanced solutions for monitoring transport assets and cargo in the transportation and distribution industries.