Olshan Client Powerfleet Completes Transformative Business Combination with MiX Telematics, Expanding Global Reach and Growth

Firm News

Olshan client Powerfleet, Inc. (Nasdaq: PWFL) closed on its previously announced transformative business combination with MiX Telematics Limited, a South African public company, forming one of the largest mobile asset Internet of Things software-as-a-service providers. The combination positions Powerfleet for accelerated growth and expected near term EBITDA expansion, in addition to a larger global footprint. The transaction also resulted in a secondary listing of Powerfleet common stock on the Johannesburg Stock Exchange (in addition to its primary listing on the Nasdaq Global Market), and the closing of two concurrent financings that allowed the company to fully redeem its Series A convertible preferred stock. The Olshan team that guided Powerfleet through this transformative transaction and related financings consists of Michael Neidell, Honghui Yu, Jason Saltsberg, John Corrado, Dakota Forsyth and Judith Renner from the Corporate/Securities Law group, K.C. Chiang and Alexander Sanchez-Figueroa from the Tax & Personal Planning group, Mary Grieco and Morgan Spina from the Intellectual Property Law group, and Michael Passarella from the Employment Practices group.

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