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Powerfleet, Inc. 8-K/A Report: Strategic Acquisition of Fleet Complete Unveiled

$AIOT
Form 8-K/A
Filed on: 2024-12-17
Source
Powerfleet, Inc. 8-K/A Report: Strategic Acquisition of Fleet Complete Unveiled

Here are the key insights extracted from the provided financial report section regarding Powerfleet, Inc.:

  1. Company Overview:
  • Name: Powerfleet, Inc.
  • State of Incorporation: Delaware (DE)
  • SEC Central Index Key (CIK): 0001774170
  • Stock Exchange: NASDAQ (Ticker: AIOT)
  • Common Stock Par Value: $0.01 per share
  1. Recent Filing:
  • Form Type: 8-K/A (Amendment to Current Report)
  • Filing Date: October 2, 2024
  • Report Period: As of October 1, 2024
  1. Acquisition Details:
  • Acquisition Completion Date: October 1, 2024
  • Target Company: Fleet Complete
  • Acquisition Type: Purchase of all direct and indirect common shares in several entities, including:
    • Golden Eagle Canada Holdings, Inc.
    • Complete Innovations Holdings Inc.
    • Golden Eagle Holdings, Inc.
  • Purchase Agreement Date: September 18, 2024
  • Parties Involved:
    • Golden Eagle Topco, LP
    • Other Sellers (specific individuals/entities to be determined)
    • Powerfleet, Inc.
    • Powerfleet Canada Holdings Inc.
  1. Business Implications:
  • The acquisition of Fleet Complete signifies a strategic expansion for Powerfleet, likely aimed at enhancing its capabilities in the fleet management sector. This move could potentially lead to increased market share, expanded customer base, and improved service offerings.
  1. Contact Information:
  • Address: 123 Tice Boulevard, Woodcliff Lake, NJ 07677
  • Phone Number: 201-996-9000

Overall, this section of the financial report highlights a significant acquisition that may have a considerable impact on Powerfleet's operations and market position in the fleet management industry.