PowerFleet Inc. (PWFL) and MiX Telematics (MIXT) Announce Business Combination
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Powerfleet and MiX Telematics Announce Transformative Business Combination
October 10, 2023 7:00 AM EDTCombination Expected to Create Top-Tier Global Provider in Mobile Asset IoT Industry with Unparalleled Artificial Intelligence Enhanced SaaS Solution Portfolio
~1.7 Million Combined Subscriber Base Expected to Provide Immediate Scale
Expected to Create a Day One Business with Total Revenue of $279 Million, Including $210 Million of Recurring High-Margin SaaS Revenues and Combined Service Gross Margins of 67%
In Addition to Organic Growth, Combination is Expected to Unlock Significant Annual EBITDA Expansion Within First Two Years
Expected to Deliver... More
