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Română Powerfleet and MiX Telematics announce transformative business combination
- Combination 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 Significant Cross-Sell and Upsell Opportunities for Powerfleet’s Unity Platform, Modular Software, and AI-Driven Data Solutions into Combined Base of 7,500 Enterprise Customers.
- Leadership Teams to Host Joint Conference Call Today, October 10, 2023 at 8:30 AM ET.
- Joint Investor Day Scheduled for Thursday, November 16, 2023 in New York City. Further Details Will Be Communicated Shortly.
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About MiX by Powerfleet
MiX by Powerfleet develops and implements connected fleet and mobile asset management solutions for customers across the globe. Our SaaS enabled software is developed to meet our customers’ requirements and aims to build long-term partnerships.
Founded in 1996, our heritage spans more than 25 years. Built on a solid foundation of deep-rooted expertise, we continue to hone our fleet management capabilities that are underpinned by innovation. This is evident throughout our product portfolio that meets the breadth of modern fleet challenges in an evolving industry.
Our products and services reach more than 120 countries and are supported by a prolific network of 130 channel partners and regional offices in 8 countries.
Contact MiX by Powerfleet to discuss how we can solve your fleet management problems and increase efficiency, sustainability, security, compliance and safety.