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Olshan Represents I.D. Systems in Acquisition of Pointer Telocation Ltd. and Reorganization into PowerFleet, Inc.

I.D. Systems and PowerFleet, Inc.

Olshan represented I.D. Systems, which has been rebranded as PowerFleet, Inc., in its transformational acquisition of Pointer Telocation Ltd., an Israeli public company, for $140 million in cash and stock.  Upon the closing of the transaction, I.D. Systems reorganized into a new holding company structure as a result of which each of I.D. Systems and Pointer became wholly-owned subsidiaries of PowerFleet, Inc., a new public holding company dual-listed on the Nasdaq Global Market and the Tel Aviv Stock Exchange.  The transaction was financed by a $50 million convertible preferred investment in PowerFleet, a $30 million credit facility with Bank Hapoalim in Israel, and a $5 million convertible note for working capital purposes.

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