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

Firm News

As reported in Return on Information, 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.  Olshan attorneys representing I.D. Systems and PowerFleet include Corporate partners Michael Neidell, Jason Saltsberg, Kenneth Schlesinger and associates Honghui Yu and John Corrado; and Employee Benefits partner Stephen Ferszt.

Media Contact

Marketing Contact
Mizi Mehaj
Marketing & Administrative Manager
mmehaj@olshanlaw.com
212.451.2319


Jump to Page

Necessary Cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Analytical Cookies

Analytical cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.