5th Nov 2013 11:51
LONDON (Alliance News) - Satellite company Inmarsat PLC Tuesday said it has formed a strategic alliance with Orbcomm Inc to jointly develop technology that helps drive big machinery for the likes of Caterpillar, Komatsu and Volvo, as well as to look at opportunities to expand satellite networks and integrate technology.
In a statement, the companies said they'll work together to create a standard satellite platform and cost-effective hardware for the machine industry.
Inmarsat owns and operates three constellations of communication satellites that provide communications networks across the world. It has also developed a suite of so-called 'machine-to-machine' services that remotely monitor and manage of fixed and mobile assets, such as transport fleets, oil pipelines and utility networks.
Orbcomm, meanwhile, is a major provider of machine-to-machine technology, including many of the world's biggest heavy machinery companies among its clients.
Inmarsat shares were down 1.1% at 722 pence Tuesday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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