"Pointer" is sold to the american "ID Systems" for an amount of $ 140 million

Pointer is sold to I.D. Systems. That you pay for Pointer, in a share transaction and in cash, an amount of $ 140 million. The deal is expected to close in the summer. After completion, the company will be traded on the Tel Aviv Stock Exchange and the NASDAQ, and will be called PowerFleet.
This is a combined cash and equity transaction, with a cash component of $ 72 million, based on loans of $ 40 million from Bank Hapoalim.
Pointer provides mobile asset management services and products, such as technological solutions for fleet management. Pointer provides mobile resource management (MRM) solutions, such as location-based services, fleet management and asset tracking.
In May 2018, private equity firm DBSI sold close to one-third of Pointer's shares, for $ 10 million. The transaction was based on a price of $ 14 per Pointer share, followed by DBSI in Pointer from 27% to 18.5%, with a current holding value of $ 20.5 million.
Under the deal, approximately 8.5% of Pointer's share capital "changed hands", according to market estimates, the buyers of shares from DBSI are Altshuler Shaham and two other entities.
In December 2018, Pointer reported the largest order it received from a customer. In a laconic announcement to the stock exchange, the company updated its $ 8.5 million order for a 4G product from an undisclosed service provider and gave no details of its geographical location. Pointer updated that the supply of products is expected to begin in the second quarter of 2019 and will continue until the end of 2019.
The products Spointer provides are used for tracking and management, and include two-way car communication and connection to the vehicle's computer. "This is the core of our business," Mahalav told "Globes". "The products are all connected to GPS and communications on cellular lines as well as to the vehicle array, around which they create a whole world with applications around."
The purchaser is I.D. Systems. The company was founded in 1993 by two engineers who graduated from Stanford University and now has clients such as Ford, AVIS, and the US Post Office.