FCC nods ORBCOMM for GI Partners acquisition

Aug. 18, 2021 4:37 PM ETORBCBy: Manshi Mamtora, CFA

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  • Federal Communications Commission (or FCC) approves the transfer of control of ORBCOMM’s (NASDAQ:ORBC) authorizations in connection with the previously announced acquisition of ORBCOMM by GI Partners, a leading US-based investor in data infrastructure businesses.
  • Approval satisfies one of the conditions to the closing of the proposed acquisition.
  • Closing expected in early September 2021.
  • A quick look at company's recent earnings report.
  • Shares +1.4% during after hours

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