Summary
- I.D. Systems has agreed to acquire Pointer Telocation for $140 million in cash and stock.
- Pointer has created a suite of IoT and mobile telematics solutions for logistics companies.
- With the deal, the combined firm will rebrand as PowerFleet, have a global reach and a more vertically integrated set of offerings.
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Quick Take
I.D. Systems (IDSY) announced it has agreed to acquire Pointer Telocation (PNTR) for $140 million.
Pointer Telocation provides telematics and mobile Internet of Things [IoT] solutions for the automotive industry.
IDSY and Pointer are combining to increase global scale and integrate vertically to enable the new entity to take advantage of cross-selling opportunities and improve its value proposition to global logistics customers.
