Pointer Telocation (PNTR) Acquires Cellocator for $18.5M
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Pointer Telocation Ltd. (Nasdaq: PNTR) entered into a definitive agreement with Cellocator Ltd. and its affiliates for the purchase of its assets and activities for approximately US$18.5 million which will be paid by: (i) the issuance of 160,000 Ordinary Shares of the Company; (ii) a convertible debenture, convertible into 160,000 Ordinary Shares of the Company, at principal amount of US$1,921,668; (iii) a cash consideration of approximately NIS 62,000,000.
Cellocator Ltd provides sophisticated, cost-effective and reliable OEM products for the vehicle security and fleet management service industry, as well as solutions for wireless M2M (machine to machine).
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