I.D. Systems to buy Pointer Telocation for $140 mln [Reuters]
ID SYSTEMS (IDSY)
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Source: Reuters
I.D. Systems to buy Pointer Telocation for $140 mln - PE Hub I.D. Systems to buy Pointer Telocation for $140 mln Print Email Abry Partners PowerFleet. John Hunt Anders Bjork PRESS RELEASE WOODCLIFF LAKE, N.J., March 13, 2019 (GLOBE NEWSWIRE) — I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise asset management and Industrial Internet of Things (IoT) technology, and Pointer Telocation Ltd. (NASDAQ: PNTR; TASE: PNTR), a leading provider of telematics and mobile IoT solutions, have entered into a definitive agreement where I.D. Systems will acquire all of the outstanding shares of Pointer in a cash and stock transaction valued at approximately $140 million. Acquisition Summary and Key Developments I.D. Systems CEO, Chris Wolfe, and CFO, Ned Mavrommatis, to lead combined company with Pointer CEO, David Mahlab, to serve as CEO International and as a member of the PowerFleet Board of Directors, Pointer CFO, Yaniv Dorani to serve as Deputy to CEO International Acquisition
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