Orbcomm draws from Macquarie term loan to help fund InSync acquisition

By Marisa Wong

Madison, Wis., Jan. 20 – Orbcomm Inc. borrowed $10 million from its additional acquisition term loan facility under its credit agreement with Macquarie CAF LLC on Jan. 16, according to an 8-K filing with the Securities and Exchange Commission.

Proceeds were used to pay a portion of the closing consideration for Orbcomm’s acquisition of InSync Software, Inc. from Indentec Group AG.

Orbcomm entered into a $160 million credit agreement with Macquarie on Sept. 30, as previously reported.

The satellite data communications company is based in Fort Lee, N.J.

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