GI Partners, a private equity firm, completed the acquisition of ORBCOMM, a network gear manufacturer, for $1.1bn including net debt. ORBCOMM stockholders received $11.5 in cash per outstanding share of common stock at a premium of approximately 52% to ORBCOMM’s closing share price on April 7. “This transaction will provide immediate and substantial value to ORBCOMM stockholders, reflecting the tremendous commitment and work of our employees and stakeholders. The partnership with GI Partners will provide us the opportunity to rapidly advance our long-term strategy. GI Partners has an established track record of working with companies to accelerate growth, and we look forward to continuing to drive innovation, providing world-class service to our global customers and expanding our market share in the industrial IoT as a privately held company," Marc Eisenberg, ORBCOMM CEO. On August 18, 2021, ORBCOMM announces FCC approval for $1.1bn acquisition by GI Partners.