Pointer Telocation (PNTR) Acquires Cellocator for $18.5M
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).
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).
You May Also Be Interested In
- Pointer Telocation's Q1 2012 Financial Results Release & Conference Call Scheduled for May 30th, 2012
- Dollar Thrifty (DTG) Shares Spike Higher as Hertz (HTZ) Could Make an Offer
- UPDATE: Angelo, Gordon to Acquire Benihana (BNHN) for $16.30/Share in Cash
Create E-mail Alert Related Categories
Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
