Powerfleet announces strategic acquisition of fleet complete

Expected to create industry powerhouse with total revenue anticipated to exceed $400 million including $300+ million of recurring high margin saas revenue highly accretive with $200 million transaction value representing 8x pre-synergy and 5x post-synergy adjusted ebitda acquisition strengthens powerfleet's north american presence, fuels top-line growth in europe and australia, and extends go-to-market reach through scaled indirect channel transaction accelerates powerfleet's momentum towards achieving long-term 20%+ organic revenue growth and rule of 40 performance creates highly effective combined global entity with over 2.6 million combined subscribers and 2,500 employees with dedicated teams to support customers across 6 continents transaction expected to close on october 1, 2024 leadership teams to host joint q&a call with analysts and investors today, september 18, 2024 at 10:30 am et woodcliff lake, n.j. , sept. 18, 2024 /prnewswire/ -- powerfleet, inc. (nasdaq: aiot), a leading provider of aiot saas solutions for the mobile asset industry, today announced it has entered into a definitive agreement providing for the strategic acquisition of fleet complete, a prominent player in connected vehicle technology and fleet management.
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