Powerfleet Closes Strategic Acquisition of Fleet Complete
Powerfleet, Inc. (Nasdaq: PWFL) has successfully closed the acquisition of Fleet Complete, a leading connected vehicle technology and fleet management company. This strategic move is expected to create a $400m+ revenue company, including $300m+ of recurring SaaS revenue and $85m EBITDA. The combined entity will have 2.6 million total subscribers, positioning Powerfleet as a global leader in the AIoT market.
CEO Steve Towe highlighted that this transformative and highly accretive transaction will immediately scale Powerfleet's presence in North America and Europe. It also unlocks significant growth opportunities through Fleet Complete's indirect channel partnerships, particularly in the U.S. and Canada. The acquisition enhances Unity's data capabilities, adds 600,000 new subscribers, expands cross-sell opportunities, and strengthens Powerfleet's position in the AI-powered video market with Fleet Complete's FC Vision solution.
Powerfleet, Inc. (Nasdaq: PWFL) ha completato con successo l'acquisizione di Fleet Complete, una delle aziende leader nella tecnologia dei veicoli connessi e nella gestione delle flotte. Questa mossa strategica è destinata a creare un azienda con ricavi superiori a $400 milioni, compresi oltre $300 milioni di entrate SaaS ricorrenti e EBITDA di $85 milioni. L'entità combinata avrà 2,6 milioni di abbonati totali, posizionando Powerfleet come leader globale nel mercato AIoT.
Il CEO Steve Towe ha evidenziato che questa transazione trasformativa e altamente accretiva scalerà immediatamente la presenza di Powerfleet in Nord America e Europa. Sblocca anche significative opportunità di crescita attraverso le partnership di canale indiretto di Fleet Complete, in particolare negli Stati Uniti e in Canada. L'acquisizione migliora le capacità dei dati di Unity, aggiunge 600.000 nuovi abbonati, espande le opportunità di cross-sell e rafforza la posizione di Powerfleet nel mercato dei video alimentati dall'AI con la soluzione FC Vision di Fleet Complete.
Powerfleet, Inc. (Nasdaq: PWFL) ha cerrado con éxito la adquisición de Fleet Complete, una empresa líder en tecnología de vehículos conectados y gestión de flotas. Este movimiento estratégico se espera que cree una empresa con ingresos superiores a $400 millones, incluyendo más de $300 millones en ingresos recurrentes de SaaS y EBITDA de $85 millones. La entidad combinada tendrá 2.6 millones de suscriptores en total, posicionando a Powerfleet como líder global en el mercado AIoT.
El CEO Steve Towe destacó que esta transacción transformadora y altamente accretiva escalará inmediatamente la presencia de Powerfleet en América del Norte y Europa. También desbloquea oportunidades de crecimiento significativas a través de las asociaciones de canal indirecto de Fleet Complete, particularmente en EE. UU. y Canadá. La adquisición mejora las capacidades de datos de Unity, añade 600,000 nuevos suscriptores, expande las oportunidades de venta cruzada y refuerza la posición de Powerfleet en el mercado de video impulsado por IA con la solución FC Vision de Fleet Complete.
Powerfleet, Inc. (Nasdaq: PWFL)는 Fleet Complete의 인수 계약을 성공적으로 마무리했습니다, 연결된 차량 기술 및 차량 관리의 선두 기업입니다. 이 전략적 조치는 4억 달러 이상의 수익을 창출하는 회사를 만들 것으로 예상되며, 3억 달러 이상의 반복 SaaS 수익과 8500만 달러의 EBITDA를 포함합니다. 결합된 회사는 260만 명의 총 가입자를 확보하여 Powerfleet를 AIoT 시장의 글로벌 리더로 자리매김하게 합니다.
CEO Steve Towe는 이 변화적이고 매우 유익한 거래가 Powerfleet의 북미 및 유럽 내 존재감을 즉각적으로 확장할 것이라고 강조했습니다. 또한 Fleet Complete의 간접 채널 파트너십을 통해 특히 미국과 캐나다에서 상당한 성장 기회를 열어줍니다. 이 인수는 Unity의 데이터 기능을 개선하고, 60만 명의 신규 가입자를 추가하며, 교차 판매 기회를 확대하고, Fleet Complete의 FC Vision 솔루션을 통해 AI 기반 비디오 시장에서 Powerfleet의 입지를 강화합니다.
Powerfleet, Inc. (Nasdaq: PWFL) a réussi à finaliser l'acquisition de Fleet Complete, une entreprise leader dans la technologie des véhicules connectés et la gestion de flotte. Ce mouvement stratégique devrait créer une entreprise générant plus de 400 millions de dollars de chiffre d'affaires, dont plus de 300 millions de dollars de revenus SaaS récurrents et 85 millions de dollars d'EBITDA. L'entité combinée comptera 2,6 millions d'abonnés au total, positionnant Powerfleet comme un leader mondial sur le marché de l'AIoT.
Le PDG Steve Towe a souligné que cette transaction transformative et très accretive étendra immédiatement la présence de Powerfleet en Amérique du Nord et en Europe. Elle ouvre également d'importantes opportunités de croissance grâce aux partenariats indirects de Fleet Complete, en particulier aux États-Unis et au Canada. L'acquisition améliore les capacités de données de Unity, ajoute 600 000 nouveaux abonnés, élargit les opportunités de vente croisée et renforce la position de Powerfleet sur le marché de la vidéo alimentée par l'IA avec la solution FC Vision de Fleet Complete.
Powerfleet, Inc. (Nasdaq: PWFL) hat die Übernahme von Fleet Complete erfolgreich abgeschlossen, einem führenden Unternehmen im Bereich der vernetzten Fahrzeugtechnologie und Flottenmanagement. Dieser strategische Schritt wird voraussichtlich ein Unternehmen mit einem Umsatz von über 400 Millionen US-Dollar schaffen, einschließlich über 300 Millionen US-Dollar wiederkehrendem SaaS-Umsatz und 85 Millionen US-Dollar EBITDA. Die kombinierte Einheit wird 2,6 Millionen Gesamtabonnenten haben und positioniert Powerfleet als globalen Marktführer im AIoT-Sektor.
CEO Steve Towe wies darauf hin, dass diese transformative und stark akquisitorische Transaktion sofort die Präsenz von Powerfleet in Nordamerika und Europa skalieren wird. Sie eröffnet auch bedeutende Wachstumschancen durch die indirekten Kanalpartnerschaften von Fleet Complete, insbesondere in den USA und Kanada. Die Akquisition verbessert die Datenfähigkeiten von Unity, fügt 600.000 neue Abonnenten hinzu, erweitert die Cross-Sell-Möglichkeiten und stärkt die Position von Powerfleet im AI-gesteuerten Video-Markt mit der FC Vision Lösung von Fleet Complete.
- Acquisition expected to create a $400m+ revenue company
- Over $300m of recurring SaaS revenue projected
- $85m EBITDA forecasted
- Combined total of 2.6 million subscribers
- Expansion of presence in North America and Europe
- Addition of 600,000 new subscribers
- Enhanced data ingestion and integration capabilities
- Strengthened position in AI-powered video market
- None.
Insights
This acquisition marks a significant milestone for Powerfleet, propelling it into a leadership position in the AIoT market. The combined entity's projected
The addition of 2.6 million subscribers provides a substantial user base for cross-selling opportunities and economies of scale. The expansion into North America and Europe through Fleet Complete's established channels could accelerate Powerfleet's market penetration and revenue growth.
Investors should note the potential for synergies in data integration and AI-powered video solutions, which could drive innovation and competitive advantage. However, it's important to monitor the integration process and any potential challenges in merging operations and cultures.
The acquisition of Fleet Complete significantly enhances Powerfleet's technological capabilities in the AIoT space. The integration of Fleet Complete's FC Vision solution into Powerfleet's portfolio strengthens its position in the AI-powered video market, a rapidly growing segment with applications in safety, security and operational efficiency.
The expanded data ingestion and integration capabilities from Fleet Complete's 600,000 new subscribers will likely improve the accuracy and depth of Powerfleet's AI and machine learning models. This could lead to more sophisticated predictive analytics and IoT solutions for fleet management.
The combined entity's increased scale in connected vehicle technology positions it well to capitalize on trends such as autonomous vehicles, smart cities and advanced telematics. However, the challenge lies in seamlessly integrating these technologies and leveraging the combined data assets effectively.
Acquisition Expected to Create a
With 2.6 million total combined subscribers and forecasted combined revenue of over
"We are thrilled to have completed this transformative and highly accretive transaction. This acquisition immediately scales our presence in both
ABOUT POWERFLEET
Powerfleet (Nasdaq: AIOT; JSE: PWR) 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
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of federal securities laws. Powerfleet's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements may be identified by words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions.
These forward-looking statements include, without limitation, Powerfleet's expectations with respect to its beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions and future performance, as well as anticipated financial impacts of the acquisition of Fleet Complete. Forward-looking statements involve significant known and unknown risks, uncertainties and other factors, which may cause their actual results, performance or achievements to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. Most of these factors are outside Powerfleet's control and are difficult to predict. The risks and uncertainties referred to above include, but are not limited to, risks related to: (i) the ability to realize the anticipated benefits of the acquisition of Fleet Complete; (ii) the ability to successfully integrate the businesses; (iii) disruption from the acquisition of Fleet Complete making it more difficult to maintain business and operational relationships; (iv) the negative effects of the consummation of the acquisition of Fleet Complete on the market price of Powerfleet's securities; (v) significant transaction costs and unknown liabilities; (vi) litigation or regulatory actions related to the acquisition of Fleet Complete; and (vii) such other factors as are set forth 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
Carolyn Capaccio and Jody Burfening
LHA Investor Relations
AIOTIRTeam@lhai.com
Powerfleet Media Contact
Jonathan Bates
jonathan.bates@powerfleet.com
+44 7921 242 892
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SOURCE Powerfleet
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