Corporate News
ORBCOMM AND QUAKE GLOBAL SETTLE ALL LEGAL PROCEEDINGS AND SIGN NEW 10 YEAR MANUFACTURING AGREEMENT
Fort Lee, NJ, May 14, 2007 – ORBCOMM (Nasdaq: ORBC), announced today that its subsidiaries and Quake Global, Inc. have entered into a global settlement agreement dismissing all legal proceedings between the companies. In addition, ORBCOMM and Quake Global have signed a new ten year manufacturing agreement for Quake Global to continue to produce subscriber communicators for use on the ORBCOMM network.
Quake Global has been a manufacturer of devices for the ORBCOMM network since the network began operations.
ORBCOMM’s CEO, Jerry Eisenberg said, “We are very pleased to put our legal disputes behind us and for Quake Global to continue to be a manufacturer of subscriber communicators for the ORBCOMM network. Quake Global has a long history with ORBCOMM and we are extremely pleased to be continuing that into the foreseeable future.”
Polina Braunstein, CEO of Quake Global, said “With the legal issues behind us and a new agreement in place, QUAKE® will continue to apply its leading edge technology to making high quality innovative M2M communications devices for the ORBCOMM network well into the future. We are looking forward to continuing our long and prosperous relationship with ORBCOMM and our customers. The combined strengths of our companies offer the best M2M solution in the industry.”
About ORBCOMM
ORBCOMM is a global satellite data communications company that provides reliable, cost-effective data communications services to customers around the world through its unique low-earth orbit (LEO) satellite network and global ground infrastructure. A diverse customer base, including industry leaders General Electric, Caterpillar Inc., Volvo Group, XATA, Hitachi and Komatsu, uses ORBCOMM services to track, monitor and control mobile and fixed assets, including trucks, containers, marine vessels, locomotives, heavy machinery, pipelines, oil wells, utility meters and storage tanks anywhere in the world. For more information call 1-800-ORBCOMM or visit its website at www.orbcomm.com.
About Quake Global
Founded in 1998, privately held QUAKE® designs, manufactures, and implements advanced wireless methods of asset tracking and monitoring through satellite, cellular, and other developing technologies. From its headquarters in San Diego and through a network of international distribution representatives, the company provides products and design services to OEM’s and other companies in the heavy equipment, aviation, and trucking industries, as well as in utility, gas & oil, maritime, and rail applications. Quake Global is proud of its world-wide reputation for providing high-quality subscriber communicators to Komatsu, Caterpillar, Hitachi, Volvo Trucks, Volvo Construction, XATA, and many others. More information is available at www.quakeglobal.com.
Contacts
Media Inquiries:
Jennifer Lattif James C. Moir
The Abernathy MacGregor Group Quake Global, Inc.
212-371-5999 858-277-7290, Ext. 275
jcl@abmac.com jmoir@quakeglobal.com