S&P Global (SPGI) said Thursday it has agreed to acquire ORBCOMM's Automatic Identification System data services business.
Financial details weren't disclosed.
ORBCOMM's AIS business, which provides satellite data services for vessel tracking and maritime visibility, will be integrated into the S&P Global's Market Intelligence division following the acquisition, S&P Global said, adding that it will also take an equity stake in ORBCOMM and partner to develop supply chain insights.
The acquisition is expected to close in 2025, pending customary closing conditions and required regulatory approvals, the company said.
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