PARIS — Satellite- and terrestrial-IoT service provider Orbcomm Inc. eliminated 85,000 subscribers from its books as part of a broad housecleaning that includes consolidation of the multiple platforms and management software systems that were a heritage from past acquisitions.
Orbcomm Chief Financial Officer Dean Milcos said clearing the 85,000 non-paying subscribers will save Orbcomm some $500,000 a year, which when added to synergies from tighter integration of acquired companies’ operations, resulted in $2 million in operating expenses in 2019, with another $4 million expected in 2020.
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