Pointer Telocation, a Telematics and Mobile IoT Solutions Company, is being acquired by I.D. Systems for $140 Million in Cash and Stock
I.D. Systems, a provider of enterprise asset management and Industrial Internet of Things technology, and Pointer Telocation Ltd, a provider of telematics and mobile IoT solutions, have entered into a definitive agreement. I.D. Systems will acquire all of the outstanding shares of Pointer in a cash and stock transaction valued at approximately $140 million.
“This is a transformative acquisition for I.D. Systems and our industry, as it combines our market and product leadership in North America with Pointer’s technology leadership, supply chain acumen and broad international footprint,” said Chris Wolfe CEO of I.D Systems.
Pointer Telocation is a cloud-based software tracks vehicles, for fleet management and insurance. It provides a roadside assistance service to motorists, via its Shagrir subsidiary.
I.D. Systems provides machine to machine solutions to control track and manage a variety of business assets such as cars, rental cars, trailers, containers and cargo.
