Powerfleet ( (AIOT) ) has issued an announcement.
Powerfleet, Inc. has announced a strategic move with a $200 million acquisition of Fleet Complete, financed through a mix of stock issuance, cash, and a senior secured term loan. Part of the payment will be funded by a private placement of Powerfleet’s common stock amounting to $70 million, which also supports general corporate purposes. The deal hinges on standard closing conditions and regulatory approvals, with a set termination date if not completed by December 31, 2024. This acquisition represents a significant expansion for Powerfleet and showcases the company’s growth-focused strategy in the competitive telematics landscape.
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