ORBCOMM (News - Alert) Inc., a global satellite data communications company focused on two-way machine-to-machine (M2M) communications, entered into a definitive agreement with PAR Technology Corporation to acquire the assets of PAR's subsidiary, PAR Logistics Management Systems (PAR LMS).

PAR LMS is a provider of advanced solutions for monitoring transport assets and cargo in the transportation and distribution industries.

Under the terms of the transaction, ORBCOMM will acquire PAR LMS for approximately $6 million at closing.

The transaction is expected to close in mid-January 2012, subject to customary closing conditions.

"The addition of PAR LMS's customer base and advanced technology platform strengthens ORBCOMM's foundation of value-added services and our ability to offer the most advanced products in the fast-growing telematics industry," said Marc Eisenberg, CEO of ORBCOMM, in a statement.

"We expect to offer customers increased features, higher levels of integration and increased scale by adding PAR LMS to our portfolio of leading edge businesses. We look forward to welcoming PAR LMS's employees and customers to ORBCOMM," said Eisenberg.

Paul B. Domorski, PAR chairman and CEO, said that the company is pleased with this agreement, which comes at the end of a thorough review and sale process.

Domorski said that the decision to sell PAR LMS resulted from the company’s board's evaluation over the past year of various strategic alternatives to position the company for long-term growth.

“Focusing on the core businesses will benefit customers and shareholders and the sale of PAR LMS is an important step forward to unlocking the intrinsic value of PAR's underlying assets," he said.

Domorski said that ORBCOMM's proven experience in the telematics industry, cutting-edge technology resources and breadth of global data communications services will significantly benefit PAR LMS's current customers.

Industry experts opined that the acquisition of PAR LMS adds new vertical markets to ORBCOMM and will enhance ORBCOMM's leadership position in providing efficiency, predictability and quality to cold chain management.