IMC Logistics, LLC Deploys Powerfleet's Unity Platform

Rhea-AI Summary

Powerfleet (Nasdaq: PWFL) announced that IMC Logistics, the largest marine drayage provider in the U.S., has implemented its Unity platform. Unity consolidates large amounts of data from various sources and IoT devices, offering real-time visibility of IMC's assets across North America. This platform simplifies data management, reduces the need for multiple providers, and supports IMC's growth by easing data integration during mergers and acquisitions. The partnership has enhanced asset visibility and operational efficiency for IMC, minimizing equipment search and re-evaluation. IMC utilizes Powerfleet's hardware and SaaS solutions for end-to-end asset monitoring.

Positive

• IMC Logistics, the largest marine drayage provider in the U.S., adopts Powerfleet's Unity platform.
• Unity offers real-time visibility and actionable insights of unpowered and untethered assets across North America.
• The platform consolidates data from various sources, eliminating the need for multiple providers.
• Unity supports IMC's growth by easing data integration during mergers and acquisitions.
• Partnership reduces the need for constant equipment search and re-evaluation.
• IMC leverages Powerfleet's hardware and SaaS solutions for comprehensive asset monitoring.

Negative

• No significant negative aspects reported in the PR.

Leveraging Unity has harmonized disconnected data sources and provided real-time visibility of marine drayage assets across North America

WOODCLIFF LAKE, N.J., June 20, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today announced IMC Logistics, LLC, the largest marine drayage provider in the United States, has deployed its SaaS-based, data-agnostic platform, Unity. Through using Unity's data highway, large amounts of data can now be ingested, harmonized, and simplified within a single pane of glass, offering actionable insights and real-time visibility of IMC's unpowered and untethered assets across hundreds of locations in North America.

With Unity now consolidating large amounts of IMC's data from numerous sources and IoT devices, the pain of having multiple providers and portals has been eliminated. This unification makes the platform a future-proof solution – as IMC grows and evolves, Unity eases the friction of standard mergers and acquisitions activity by rapidly consuming and harmonizing the new data sets.

This partnership has also solved asset visibility challenges for IMC and helped mitigate the need for constant search and re-evaluation of equipment. By standardizing installation, they have been able to further reduce frustration and duplication of efforts.

"It has been an exemplary experience with the Powerfleet team every step of the way from the pre-sales process through to contract execution and technical deployment," said Carl Schultz, Vice President of IT at IMC. "Powerfleet Unity is purpose-fit to empower our digital transformation and Powerfleet's people truly care, a winning combination and a formula for success. In short, Unity brings order to our data chaos."

IMC leverages the Unity platform and Asset Gateway product, taking full advantage of Powerfleet's best-in-class hardware and SaaS software solutions – resulting in complete, real-time asset visibility from port to final destination.

"This partnership is a perfect illustration of the transformative power of data and how it can unify operations to achieve business objectives," said Steve Towe, Chief Executive Officer at Powerfleet. "The IMC team is revolutionizing the transportation space, and we are honored to work with a company that is similarly dedicated to ongoing innovation to better serve customers."

More information on Powerfleet's Unity platform is available here.

ABOUT IMC LOGISTICS, LLC

IMC Logistics, LLC is the largest marine drayage company in the United States. Equipped with the largest fleet of trucks and chassis, an integrated network of secure depots, and transloading facilities, IMC moves cargo to and from all major rails and ports in the nation. For 42 years, IMC has focused on delivering innovative solutions to its valued clients. To learn more, visit www.imcc.com.

ABOUT POWERFLEET

Powerfleet (Nasdaq: PWFL; JSE: PWR; TASE: PWFL) is a global leader in the artificial intelligence of things (AIoT) software-as-a-service (SaaS) mobile asset industry. With more than 30 years of experience, Powerfleet unifies business operations through the ingestion, harmonization, and integration of data, irrespective of source, and delivers actionable insights to help companies save lives, time, and money. Powerfleet's ethos transcends our data ecosystem and commitment to innovation; our people-centric approach empowers our customers to realize impactful and sustained business improvement. The company is headquartered in New Jersey, United States, with offices around the globe. Explore more at www.powerfleet.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of federal securities laws. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements. For example, forward-looking statements include, without limitation, statements regarding the impact Unity may have on IMC Logistics' business. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees and are subject to risks described from time to time in the periodic reports filed by Powerfleet with the Securities and Exchange Commission ("SEC"), including but not limited to those described under the heading "Risk Factors" in its annual reports on Form 10-K, quarterly reports on Form 10-Q and any other filings made with the SEC from time to time, which are available via the SEC's website at http://www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those indicated or anticipated by these forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.

The forward-looking statements included in this press release are made only as of the date of this press release, and except as otherwise required by applicable securities law, Powerfleet assumes no obligation, nor does Powerfleet intend to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.

Powerfleet Investor Contacts

Jody Burfening and Carolyn Capaccio
LHA Investor Relations
AIOTIRTeam@lhai.com

Powerfleet Media Contact
Andrea Hayton
ahayton@powerfleet.com
+1 (610) 401-1999

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SOURCE Powerfleet

FAQ

What recent partnership has Powerfleet announced?

Powerfleet announced a partnership with IMC Logistics, the largest marine drayage provider in the U.S.

What platform did IMC Logistics implement?

IMC Logistics implemented Powerfleet's Unity platform.

How does Unity benefit IMC Logistics?

Unity provides real-time visibility and actionable insights for IMC Logistics' assets, simplifying data management and reducing operational inefficiencies.

What specific problem does Unity solve for IMC Logistics?

Unity addresses the challenge of asset visibility and mitigates the need for constant search and re-evaluation of equipment.

How does Unity support IMC's growth?

Unity eases data integration during mergers and acquisitions, supporting IMC's growth.