PowerFleet Overview
PowerFleet Inc. (formerly I.D. Systems Inc.) is a global leader and provider of wireless IoT and M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets such as industrial trucks, tractor-trailers, containers, cargo, and vehicle and truck fleets. In 2019, I.D. Systems acquired Pointer Telocation Ltd. and their subsidiary brand Cellocator, and subsequently rebranded the new company as PowerFleet Inc. The companys offerings are sold under the global brands PowerFleet, Pointer, and Cellocator.
Latest News
growth-negative
פוורפליט יוצאת מהמסחר בבורסה הישראלית - Techtime - חדשות אלקטרוניקה והייטק
PowerFleet, an American company that was established in 2019 after acquiring Pointer Telocation, has announced that it will be delisted from the Tel Aviv Stock Exchange on August 29, 2024. The company has recently completed the acquisition of South African company MiX Telematics and is now also traded on the Johannesburg Stock Exchange. PowerFleet has warned that the ongoing conflict in Israel could negatively impact its Israeli subsidiary and, consequently, the business results of the global company. In 2023, the companys sales amounted to approximately $134 million, with an operating loss of about $12.6 million.
AcquisitionPublic Trading
growth-positive
Magen David Adom Expands Partnership with Pointer by PowerFleet Adding 800 More Life-Saving Defibrillators with Smart Devices Across Israel
PowerFleet, Inc. has expanded its IoT technological services to Magen David Adom (MDA) for more than 800 defibrillators country-wide throughout Israel. MDA plans to install defibrillators with PowerFleet technology in more public and commercial spaces. The solution enables MDA to place defibrillators with remote control capabilities to save lives. The technology allows any person to call MDAs emergency call center to receive immediate guidance and directions to the nearest defibrillator. PowerFleets solution is part of its global Industrial IoT company, providing subscription-based wireless solutions for asset management. The expansion of services to MDA signifies the value and results MDA has received since implementing the technology.
CustomersPartners
growth-positive
Israeli Pharmaceutical and Food Market Powered by PowerFleet Subsidiary Pointer Telocation's IoT Solutions
PowerFleets subsidiary, Pointer Telocation Ltd., has experienced significant growth in the past year by driving IoT innovation in the pharmaceutical and food distribution market. They have secured multiple new contracts, including LogistiPharm, Hafuz Distribution, Bactochem Laboratory, and Vertical Field. Pointers IoT solutions are being used to monitor and control temperature and humidity conditions during the storage and distribution of pharmaceuticals, transportation of medical cannabis, monitoring of stored samples, and management of temperature and humidity in urban farms. PowerFleets technologies provide real-time data and alerts, ensuring compliance with regulatory standards. The company integrates IoT solutions in various industries and offers advanced software and user applications. The article highlights the success and impact of PowerFleets IoT solutions in the pharmaceutical distribution market.
Customers
growth-positive
פוורפליט מגייסת 25 מיליון דולר בהנפקה ציבורית - Techtime - חדשות אלקטרוניקה והייטק
PowerFleet, a company formed through a merger between Pointer Telocation and I.D Systems, is raising $25 million through a public offering. The company provides mobile resource management solutions, while I.D. Systems offers wireless M2M solutions for asset tracking and management. The merger has resulted in PowerFleet operating as a holding company with I.D. Systems and Pointer Telocation as wholly-owned subsidiaries. The offering will provide the company with $23.4 million after expenses. The stock price of PowerFleet has decreased from $8 to $7.1. The company is traded on the NASDAQ and the Tel Aviv Stock Exchange with a market value of approximately $221 million. In Q3 2020, the companys sales amounted to $27.6 million, compared to $16.8 million in 2019. The CEO mentioned that the acquisition of Pointer Telocation allows PowerFleet to control its operating expenses.
Investment
growth-positive
PowerFleet CEO sees $200m revenue in 3 years
ID Systems, now named PowerFleet, acquired Pointer Telocation for $140 million. The merged company has a growth profile with 600,000 subscribers worldwide and aims for revenue growth. PowerFleet is committed to employees in Israel and has no plans to delist from the Tel Aviv Stock Exchange. US private equity fund Abry Partners is the largest shareholder with a 17.4% stake. PowerFleet is looking for more acquisitions and considers auto manufacturers as its main competition. The companys vision is to revolutionize customers with innovation and achieve $150 million in revenue by 2020.
AcquisitionPartners
Team Members
1
Employees: 11-50
Web & Social Links
| Website | www.powerfleet.com/ |
Locations
HaMelacha Street 14, Rosh Haayin, Israel
123 Tice Blvd #101, Woodcliff Lake, NJ 07677, USA
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