SUNNYVALE, Calif., March 10, 2016 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) will expand its reach in the Internet of Things (IoT) through a memorandum of understanding with ORBCOMM (Nasdaq: ORBC). As the world becomes increasingly connected and automated, Lockheed Martin plans to leverage ORBCOMM's Machine-to-Machine (M2M) portfolio and expertise to explore opportunities for customers and across the corporation. Space-enabled solutions in particular provide satellite connectivity and services for IoT applications that require wide-area coverage and integration with multiple tiers of information technology. Examples include improved asset visibility and tracking for global supply chains or during natural disaster response.
"The vision of the Internet of Things promises to change how society benefits from machines embedded with greater intelligence, improving the decisions organizations make and ultimately the quality of service delivered to their end users," said Dave Markham, vice president of Strategy and Advanced Programs at Lockheed Martin Space Systems. "To that end, we look forward to exploring future opportunities with a satellite M2M market leader like ORBCOMM."
The two companies will jointly explore future satellite and hybrid satellite/cellular M2M opportunities primarily in the government sector, in the United States as well as select international markets. Collaboration may span a range of activities, including joint business development, portfolio evolution and allied partnerships.
About Lockheed Martin Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that—with the addition of Sikorsky—employs approximately 126,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
About ORBCOMM ORBCOMM Inc. is a leading global provider of M2M communication solutions and the only commercial satellite network dedicated to M2M. ORBCOMM's unique combination of global satellite, cellular and dual-mode network connectivity, hardware, web-reporting applications and software is the M2M industry's most complete service offering. Its solutions are designed to remotely track, monitor and control fixed and mobile assets in core vertical markets including transportation and distribution, heavy equipment, industrial fixed assets, oil and gas, maritime, mining and government.
SOURCE Lockheed Martin