Galway-based company bought by US internet-of-things firm Orbcomm
Galway-based Blue Tree, which provides transportation management solutions, has been bought by Orbcomm a US-based machine-to-machine (M2M) and Internet of Things (IoT) solutions company.
Blue Tree’s US-based subsidiaries in the US, Germany, and France were also sold to Orbcomm as part of the transaction.
According to Orbcomm Blue Tree’s products, which are sold to more than 300 business customers, meet the demands of transportation companies that are increasingly looking to manage their assets under a single platform and facilitate simplified integration with their business systems
The Galway company also offers country-specific compliance solutions in both North America and Europe.
In addition the solutions provided by Blue Tree meet the requirements for the electronic logging device mandate regulations, which will require companies to replace drivers’ paper log-books with electronic "hours of service" applications within the next several months.
Orbcomm, which currently employs over 500 people, said that the acquisition of Blue Tree solidifies its transportation portfolio by adding truck in-cab and refrigerated fleet vehicle solutions to its cargo solutions.
"With advanced trucking solutions combined with an integrated software platform, Blue Tree is a strong strategic addition to Orbcomm’s broad transportation portfolio," Marc Eisenberg, Orbcomm CEO, said.
While Blue Tree founder and CEO, Charlie Cahill said that the acquisition would support the company’s rapid global growth.
"Orbcomm’s leadership in transportation telematics provides great synergy and support for our transportation solutions and delivers an unmatched and long-lasting value proposition for transportation companies around the world," Mr Cahill said.
Adjusted earnings before interest, taxation, depreciation, amortisation at Orbcomm in the six months to 30 June this year were $24m, up from $22m the previous year.