Olshan Client Powerfleet Forges Transformative Business Combination with MiX Telematics
Olshan client Powerfleet, Inc. (Nasdaq: PWFL) announced the signing of a transformative business combination with MiX Telematics Limited (NYSE: MIXT, JSE: MIX), a South African public company, to form one of the largest mobile asset Internet of Things software-as-a-service providers in the world. The transaction is structured as an all-stock deal, whereby MiX shareholders will exchange 100% of their shares in MiX for shares of Powerfleet common stock. Powerfleet will survive as the post-closing combined company, with a primary listing on Nasdaq and a secondary listing on the Johannesburg Stock Exchange. The transaction is expected to close during the first quarter of 2024. The Olshan team, steering Powerfleet through this pivotal move, is spearheaded by Corporate partners Michael Neidell and Honghui Yu and includes: associates John Corrado, Dakota Forsyth and law clerk Judith Renner from the Corporate group, partners Eduardo Cukier, K.C. Chiang and law clerk Alexander Sanchez-Figueroa from the Tax group, partner Mary Grieco and associate Morgan Spina from the Intellectual Property group, partner Michael Passarella from the Employment Practices group, and partner Stephen Ferszt from the Employee Benefits group.
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