William Blair & Company acted as the exclusive financial advisor to Powerfleet (Nasdaq: PWFL) in connection with its pending all-stock merger with MiX Telematics (NYSE: MIXT; JSE: MIX). MiX Telematics shareholders are expected to receive approximately 0.12762 shares of Powerfleet common stock for each share of MiX Telematics ordinary common stock, whereby MiX shareholders will own roughly 65%, and current Powerfleet shareholders will own roughly 35% of the combined entity immediately following the closing of the transaction. The transaction signed on October 10, 2023 and is expected to close in Q1 2024.
About the Companies
Powerfleet is a global leader of IoT SaaS solutions that optimize the performance of mobile assets and resources to unify business operations. The company’s data science insights and advanced modular software solutions help drive digital transformation through their customers’ and partners’ ecosystems to help save lives, time, and money. Powerfleet helps connect companies, enabling their customers to realize more effective strategies and results.
MiX Telematics is a leading global provider of fleet and mobile asset management solutions delivered as SaaS to over one million global subscribers spanning more than 120 countries. The company’s products and services provide enterprise fleets, small fleets, and consumers with efficiency, safety, compliance, and security solutions.
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