Pointer by PowerFleet® MX and Edenred Announce Strategic Alliance in Mexico

Rhea-AI Summary

PowerFleet (Nasdaq: PWFL) has announced a strategic alliance between its division Pointer by PowerFleet Mexico and Edenred, along with collaboration with BP gas stations. This partnership aims to provide comprehensive services for fleet operators, enhancing cost-efficiency and profitability. The BP Fleet program enhances resource utilization and fuel management through advanced secure transactions. With a network of over 530 service stations, fleet customers benefit from innovative solutions, including vehicle tracking and consumption analysis.

Positive

• Strategic alliance with Edenred and BP gas stations enhances service offerings to fleet operators.
• BP Fleet program improves resource utilization and fuel management for fleet customers.
• Access to over 530 service stations enhances operational efficiency for fleet users.

Negative

• None.

Industry Leaders Join Forces to Offer Comprehensive Solution for Fleet Managers to Optimize and Streamline Operations

WOODCLIFF LAKE, N.J., Feb. 09, 2021 (GLOBE NEWSWIRE) -- PowerFleet, Inc. (Nasdaq: PWFL), a global leader and provider of subscription-based wireless Internet of Things (IoT) and machine to machine (M2M) solutions for securing, controlling, tracking, and managing high-value enterprise assets, announced that its operating division Pointer by PowerFleet® Mexico has formed a strategic alliance with Edenred along with its collaboration with BP gas stations via its fleet program, BP Fleet, to develop and offer comprehensive services for fleet operators.

This alliance represents a shared vision to develop innovative, secure and high-quality tools with the best cost-benefit that provides total control to customers. Combining the expertise of each company delivers comprehensive solutions that empower fleet owners to optimize their resources, build efficiencies, and increase profitability.

The BP Fleet program provides through the BP Fleet wallet improved resource utilization for entrepreneurs, drivers and transporters who need innovative solutions to control and efficiently manage their fuel consumption. It helps to validate the presence of the units registered at the service station, control the type of fuel supplied, define the total number of liters to be loaded, identify the gas stations where it was loaded, and know the yield of each load per trip through an electronic card or TAG.

Transactions are highly secure since cards are equipped with an anti-cloning chip and the TAG has NFC technology that allows short-distance wireless communication, useful for sending data for subsequent online activation and assigning a personalized PIN to each driver, giving control over who performs a transaction.

BP Fleet offers its fleet customers a network of more than 530 service stations in 29 states of the country, where they will receive quality service, complete dispatch and can also purchase its unique fuel with ACTIVE technology, which with its continuous use helps clean engines and obtain the expected performance for each vehicle.

Pointer by PowerFleet MX provides solutions for fleet analysis and guidance, optimizing the exchange of information and visualizing aspects of driving habits and vehicle consumption. In addition, it offers remote control and visibility of fleet utilization, geolocation and recovery in case of theft, technical service and support through its call center.

To learn more about PowerFleet or the strategic alliance with Edenred, visit www.powerfleet.com.

About Edenred
A world leader in transactional solutions for companies, employees and businesses; creating solutions, mobile applications and tools that improve the efficiency of organizations and the purchasing power of individuals, improving their quality of life and that of their families. The company was founded in June 2010 in France and later expanded internationally. The company is present in 42 countries on four continents (America, Europe, Asia and Africa) and has nearly 8,000 employees.

About PowerFleet
PowerFleet® Inc. (NASDAQ: PWFL; TASE: PWFL) is a global leader and provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicles and truck fleets. The company is headquartered in Woodcliff Lake, New Jersey, with offices located around the globe. PowerFleet’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. Our offerings are sold under the global brands PowerFleet, Pointer, and Cellocator. For more information, please visit www.powerfleet.com, the content of which does not form a part of this press release.

Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), which may include information concerning our beliefs, plans, objectives, goals, expectations, strategies, anticipations, assumptions, estimates, intentions, future events, future revenues or performance, capital expenditures and other information that is not historical information. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties are detailed from time to time in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2019. All forward-looking statements attributable to us or persons acting on our behalf apply only as of the date they are made and are expressly qualified in their entirety by the cautionary statements included in this press release. Except as may be required by law, we undertake no obligation to publicly update or revise any forward-looking statement to reflect events or circumstances occurring after the date they were made or to reflect the occurrence of unanticipated events, or otherwise.

PowerFleet Company Contact
Ned Mavrommatis, CFO
NMavrommatis@powerfleet.com
(201) 996-9000

PowerFleet Media Contact
N6A on behalf of PowerFleet
powerfleet@n6a.com

PowerFleet Investor Contact
Matt Glover
Gateway Investor Relations
PWFL@gatewayIR.com
(949) 574-3860

FAQ

What is the significance of the strategic alliance between PowerFleet and Edenred?

The strategic alliance aims to develop comprehensive services for fleet operators, increasing efficiency and profitability.

How does the BP Fleet program improve fleet operations?

The BP Fleet program offers enhanced fuel management and resource utilization, allowing fleet managers to control fuel consumption effectively.

What services does Pointer by PowerFleet Mexico provide?

Pointer by PowerFleet Mexico offers fleet analysis, vehicle tracking, driving habits visualization, and remote control solutions.

What is PowerFleet's stock symbol?

PowerFleet is traded under the stock symbol PWFL on Nasdaq.

How many service stations are included in the BP Fleet network?

The BP Fleet network includes over 530 service stations across 29 states.