PAR Technology is selling its PAR Logistics Management Systems (PAR LMS) subsidiary to ORBCOMM Inc., a N.J.-based global satellite data communications company.
PAR LMS is a service provider focused on monitoring transport assets and cargo in the transportation and distribution industries.
When PAR announced the sale, it said ORBCOMM will pay $6 million in cash and stock, plus potentially up to an additional $4 million in compensation based on reaching specific sales targets. The deal will be finalized in mid-January.
ORBCOMM said it expects to realize benefits from the purchase in service delivery, device manufacturing, and other operating costs. PAR said the purchase by ORBCOMM will benefit all existing PAR LMS customers, while PAR LMS employees will benefit as they are added to ORBCOMM’s payroll.
In May, ORBCOMM acquired StarTrak, which focused on refrigerated transportation services and monitoring. Adding in the PAR LMS purchase to the mix will help ORBCOMM continue expanding into supply chain monitoring, with a focus on both wireless monitoring and cold chain management.
PAR sells logistics unit
