OuterLink Corp.’s senior managers have won agreement from its parent company to let them buy control of the firm and take it private.
Lowell, Mass.-based OuterLink, a leading provider of asset-tracking products for aircraft and ground vehicles, is owned by the Digital Angel Corp., whose stock is traded on the American Stock Exchange under the symbol DOC. Digital Angel bought OuterLink in 2004.
The transaction must be approved by the U.S. Federal Communications Commission.
"We are delighted to open a new chapter in OuterLink’s evolution", said Paul Newcomb, the company’s president and founder. He said he intends "to reinvigorate the focus of the company on these core mission goals:" providing satellite-based asset management and tracking services to support public safety, emergency response, and other critically important services. "This change in ownership will provide OuterLink more flexibility and a shorter cycle time in bringing our product developments to market," Newcomb said. "Our sole focus is growing our core business domestically and internationally, in both commercial and government arenas."
OuterLink’s products are used throughout North America and the Gulf of Mexico.