For more information please contact:
Al Longfield, CFA
Kamal Masud, CFA
Pointer Telocation Ltd. (Nasdaq: PNTR; TASE: PNTR), a leading provider of telematic services and technology solutions for Fleet Management, Mobile Asset Management and Internet of Vehicles, has closed its previously announced acquisition by I.D. Systems, Inc.
The new combined company will be rebranded as PowerFleet, Inc. and now trades on the Nasdaq Global Market and Tel Aviv Stock Exchange (TASE) under the ticker symbol “PWFL”.
This acquisition and new corporate branding positions PowerFleet as a leading global provider of enterprise-class wireless Internet of Things (IoT) and Machine to Machine (M2M) technology powering wireless solutions for the multi-trillion-dollar logistics, industrial vehicle and fleet management markets. To date, PowerFleet’s solutions have been selected by more than 1,500 customers and operate on more than 500,000 mobile subscriber units globally.
“We believe this is a disruptive, transformational combination for our industry, creating a new company with a North America market and global international foot print, having product leadership, technology leadership and supply chain superiority,” commented David Mahlab, President and Chief Executive Officer of Pointer, and as of the closing the CEO International of PowerFleet.“ The acquisition culminates a two-year strategic working relationship between Pointer and I.D. Systems. Together, I.D. Systems and Pointer will have the advantage of being vertically integrated, unlike any of our competitors in the market.” Mahlab continued: “PowerFleet will deliver high-value, technology leading, IoT products globally. With this new company, we expect to extend our leadership position in the growing mobile IoT and connected vehicle market, increase our penetration in North America, and expand our market share of the global IoT telematics market. Our combined platforms and solutions will create immediate leverage and greatly accelerate our connected vehicle strategy.”
David Mahlab added: “I would like to use this opportunity and thank the team, Pointer management and especially Mr. Yaniv Dorani, Pointer’s CFO, who played a pivotal role in making this complex transaction happen. I also want to thank our shareholders that enabled this transformative change and specifically DBSI which has been with us for a very long time and without whose active support we would not have reached this moment”.
ROTH Capital Partners served as advisor to Pointer Telocation.
About Pointer Telocation
Pointer Telocation is a leading provider of innovative telematics and mobile IoT solutions to the automotive, insurance and logistics (cargo, assets and containers) industries. Pointer’s cloud-based software-as-a-service (SaaS) platform, which has more than 275,000 monthly subscriber units, extracts and captures data from an organization's mission critical mobility points, including drivers, routes, points-of-interest, logistics network, vehicles, trailers, containers and cargo. Pointer’s platform then analyzes and converts this data into actionable intelligence optimizing customers’ assets and improving profitability. Pointer’s technology is currently deployed in approximately three million light and heavy commercial vehicles across 80 countries. For more information, please visit and
www.pointer.com. (Source: Company Press Release | 03/13/19)
About I.D. Systems, Inc.
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Florida, Germany and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets such as industrial vehicles, rental cars, trailers, containers, and cargo. The company’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. For more information, please visit and
www.id-systems.com. (Source: Company Press Release |
About ROTH Capital Partners
ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and
their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading,
market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and
maintains offices throughout the U.S. For more information on ROTH, please visit