Orbcomm Seeks License Transfers in $1.1B GI Partners Buy

A GI Partners buy of Orbcomm would give the satellite operator access to financial, managerial and technical resources that would help it be more competitive in the global IoT market, Orbcomm said in an FCC International Bureau application Friday seeking OK of license transfers to GI. The $1.1 billion investment firm acquisition was announced last month. The deal includes investment by a company formed to manage foreign reserves of Singapore, Orbcomm said. It said that group would be a passive investor, indirectly hold roughly 19% of Orbcomm and have no governance rights. It said the deal doesn't trigger any national security concerns since no foreign person will control Orbcomm and there won't be any changes to the existing location or control of any Orbcomm network facility.