trending Market Intelligence /marketintelligence/en/news-insights/trending/RM0lg1bJviviMbXiKsJE8Q2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

I.D. Systems to acquire Israel's Pointer Telocation for $140M

Mining Exploration Insights - October 2020

Linking Climate Transition Risks and Credit Risks

US Operators Bolster Downward Trajectory for US Cable Capex Forecast

CUSIP Requests Surge in September Led by Higher Corporate and Municipal Totals

I.D. Systems to acquire Israel's Pointer Telocation for $140M

I.D. Systems Inc. agreed to acquire all the outstanding shares of Pointer Telocation Ltd., an Israel-based provider of mobile resource management products and services for the automotive, insurance and logistics industries, for roughly $140 million.

The consideration will comprise roughly $72 million in cash and about 11 million shares of a newly created holding company called PowerFleet Inc., which will serve as the parent company of I.D. Systems and Pointer.

Pointer shareholders will receive $8.50 in cash and 1.272 shares of PowerFleet common stock for each share of Pointer common stock they own, reflecting an approximately 50% cash and 50% stock consideration, and a total consideration of approximately $16.44 per share, based on I.D. Systems' March 12 closing stock price. As part of the transaction, each I.D. Systems share will be exchanged for one share of PowerFleet's common stock.

Woodcliff Lake, N.J.-headquartered I.D. Systems will fund the transaction using a combination of a $50 million convertible preferred equity investment from Boston-based private equity firm Abry Partners LLC and a $30 million debt financing from Bank Hapoalim.

John Hunt and Anders Bjork, managing partner and principal, respectively, of Abry Partners, will join PowerFleet's board upon the closing of the investment, along with Pointer CEO David Mahlab who will join the board upon the closing of the acquisition, which is expected to occur in the summer. Hunt and Bjork will replace Ken Brakebill and Christopher Formant.

The combined company, which will have more than $20 million in cash on hand and credit facilities upon the closing of the acquisition, will be rebranded as PowerFleet, with dual listing on the Nasdaq and Tel Aviv Stock Exchanges. Pointer Telocation and Cellocator brands will remain the international go-to-market brands, according to a release.

I.D. Systems, which provides wireless machine-to-machine solutions for securing, controlling, tracking and managing high-value enterprise assets, expects to realize approximately $3.5 million of cost savings within the first 12 to 18 months following the close of the acquisition.

Canaccord Genuity is I.D. Systems' financial adviser on the deal, while Olshan Frome Wolosky LLP and Goldfarb Seligman & Co. are the legal advisers.

ROTH Capital Partners serves as Pointer's financial adviser, while ZAG-S&W LLP is acting as its U.S. and Israeli legal adviser.

Lowenstein Sandler LLP and Meitar Liquornik Geva Lesham Tal are acting as legal advisers to Abry Partners.