The merger is expected to create a leading global provider in the IoT industry with an unparalleled portfolio of AI-based SaaS solutions.
A combined subscriber base of ~1.7 million is expected to generate total revenue of $279 million from day one, of which $210 million is from subscription fees from SaaS services at a combined gross profit margin of 67%.
IN ADDITION TO ORGANIC GROWTH, THE MERGER IS EXPECTED TO GENERATE MORE THAN $25 MILLION IN ANNUAL EBITDA OVER THE FIRST TWO YEARS.
The merger will provide significant sales opportunities for Powerfleet's Unity platform, a modular software that integrates AI solutions into a base of 7,500 business customers.
COMPANY MANAGEMENT WILL HOLD A JOINT CONFERENCE CALL TODAY, OCTOBER 10, 2023 AT 08:30 ET
Attached is the official announcement in English:
