Technology

Powerfleet Closes Strategic Acquisition of Fleet Complete

Published

2 years ago

October 1, 2024

Acquisition Expected to Create a $400m+ Revenue Company, Including $300m+ of Recurring SaaS Revenue, $85m EBITDA, and Significant Expansion Opportunities

WOODCLIFF LAKE, N.J., Oct. 1, 2024 /PRNewswire/ — Powerfleet, Inc. (Nasdaq: AIOT) has successfully closed the previously announced acquisition of Fleet Complete, a prominent player in connected vehicle technology and fleet management.

With 2.6 million total combined subscribers and forecasted combined revenue of over $400 million, including more than $300 million of recurring SaaS revenue, this transformative acquisition is expected to solidify Powerfleet’s position as a true global leader in the rapidly expanding AIoT market.

“We are thrilled to have completed this transformative and highly accretive transaction. This acquisition immediately scales our presence in both North America and Europe while unlocking substantial top-line growth opportunities through Fleet Complete’s established indirect channel partnerships, particularly in the U.S. and Canada. Moreover, the acquisition enhances Unity’s data ingestion and integration capabilities, adding 600,000 new subscribers while expanding cross-sell opportunities and strengthens our position in the fast-growing AI-powered video market with Fleet Complete’s FC Vision solution,” said Steve Towe, CEO of Powerfleet. “We are excited to welcome Fleet Complete to the Powerfleet family and are confident in our ability to deliver enhanced shareholder value moving forward.”

ABOUT POWERFLEET
Powerfleet (Nasdaq: AIOT; JSE: PWR) is a global leader in the artificial intelligence of things (AIoT) software-as-a-service (SaaS) mobile asset industry. With more than 30 years of experience, Powerfleet unifies business operations through the ingestion, harmonization, and integration of data, irrespective of source, and delivers actionable insights to help companies save lives, time, and money. Powerfleet’s ethos transcends our data ecosystem and commitment to innovation; our people-centric approach empowers our customers to realize impactful and sustained business improvement. The company is headquartered in New Jersey, United States, with offices around the globe. Explore more at www.powerfleet.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of federal securities laws. Powerfleet’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements may be identified by words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions.

These forward-looking statements include, without limitation, Powerfleet’s expectations with respect to its beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions and future performance, as well as anticipated financial impacts of the acquisition of Fleet Complete. Forward-looking statements involve significant known and unknown risks, uncertainties and other factors, which may cause their actual results, performance or achievements to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. Most of these factors are outside Powerfleet’s control and are difficult to predict. The risks and uncertainties referred to above include, but are not limited to, risks related to: (i) the ability to realize the anticipated benefits of the acquisition of Fleet Complete; (ii) the ability to successfully integrate the businesses; (iii) disruption from the acquisition of Fleet Complete making it more difficult to maintain business and operational relationships; (iv) the negative effects of the consummation of the acquisition of Fleet Complete on the market price of Powerfleet’s securities; (v) significant transaction costs and unknown liabilities; (vi) litigation or regulatory actions related to the acquisition of Fleet Complete; and (vii) such other factors as are set forth in the periodic reports filed by Powerfleet with the Securities and Exchange Commission (“SEC”), including but not limited to those described under the heading “Risk Factors” in its annual reports on Form 10-K, quarterly reports on Form 10-Q and any other filings made with the SEC from time to time, which are available via the SEC’s website at http://www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those indicated or anticipated by these forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.

The forward-looking statements included in this press release are made only as of the date of this press release, and except as otherwise required by applicable securities law, Powerfleet assumes no obligation, nor does Powerfleet intend to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.

Powerfleet Investor Contacts
Carolyn Capaccio and Jody Burfening
LHA Investor Relations
AIOTIRTeam@lhai.com

Powerfleet Media Contact
Jonathan Bates
jonathan.bates@powerfleet.com
+44 7921 242 892

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SOURCE Powerfleet

Technology

Chief Futurist Ian Beacraft to Keynote at Info-Tech LIVE 2026 in Las Vegas on Designing AI-Ready Organizations

Published

12 minutes ago

April 24, 2026

AI is reshaping how value is created across the enterprise, but many organizations are still operating with models built for a pre-AI world. As a result, technology adoption alone is not translating into sustained impact. At the highly anticipated IT conference Info-Tech LIVE 2026 in Las Vegas, June 9–11 at the Bellagio, Info-Tech Research Group will feature keynote insights from Ian Beacraft, CEO and Chief Futurist at Signal and Cipher. Beacraft will share with thousands of CIOs, industry experts, and analysts in attendance how IT leaders can redesign work to better align with the demands of AI-driven change.

At Info-Tech LIVE 2026 in Las Vegas, Attendees Will Explore:

Why AI initiatives often fail to deliver value when applied to outdated ways of workingHow operating models, workflows, and decision-making must change to support AI at scaleWhere AI is being misapplied and limiting its impactWhat it takes to design organizations that can adapt alongside AI

LAS VEGAS, April 24, 2026 /PRNewswire/ – Info-Tech Research Group is set to bring together thousands of CIOs, CTOs, CISOs, and IT leaders at its upcoming flagship annual IT conference, Info-Tech LIVE 2026 in Las Vegas. Taking place June 9–11 at the Bellagio, the 2026 program will guide attendees on how they can adapt their design and execution models to fully realize value from AI. As part of the agenda, the global research and advisory firm has announced that Ian Beacraft, CEO and Chief Futurist at Signal and Cipher, will deliver a mainstage keynote on how leaders can redesign workflows, team structures, and value creation models to better align with the demands of AI-driven change.

Known for making emerging technologies understandable and actionable, Beacraft has advised global enterprises, including Nike, Google, and Microsoft, on how to turn AI from a technical capability into a driver of performance, reimagine how work is designed, and prepare teams for the future of work.

As AI capabilities continue to expand, Info-Tech has been highlighting in its recent research and reports that expectations around how work is executed and how value is delivered are shifting just as quickly. Existing processes, team structures, and decision models were not designed for continuous, technology-driven change, creating friction as leaders attempt to scale AI effectively.

“Many organizations are trying to apply AI within working models where it isn’t well suited,” says Info-Tech Research Group’s Chief Research Officer, Gord Harrison. “Through Ian Beacraft’s keynote and the broader agenda at Info-Tech LIVE 2026 in Las Vegas, leaders will better understand how rethinking decision-making and execution can help them truly get value from AI.”

By bringing together research, external perspectives, and peer dialogue, Info-Tech LIVE 2026 in Las Vegas will help IT leaders understand what it takes to apply AI more effectively across the enterprise. Attendees will leave with a stronger sense of how to support meaningful change in the way work is led, managed, and delivered.

Further updates on Info-Tech LIVE will be announced in the coming weeks. Follow Info-Tech Research Group on LinkedIn and X for more event-related news from the firm.

Media Passes for Info-Tech LIVE 2026 in Las Vegas
Journalists, podcasters, and influencers are invited to attend Info-Tech LIVE 2026 in Las Vegas. The event provides access to forward-looking research, exclusive interviews with Info-Tech’s analysts and executives, and on-the-ground perspectives from CIOs responding to emerging priorities.

Media professionals interested in applying for complimentary media passes can contact pr@infotech.com to request access and cover the latest IT leadership and strategy discussions from the event.

Exhibitor Opportunities at Info-Tech LIVE 2026 in Las Vegas
Exhibitors are also invited to be part of Info-Tech LIVE and showcase their products and services to thousands of highly engaged technology executives. With 70% of attendees identified as decision makers and 1 in 3 at the C-level, the event offers an all-access pass and opportunities to meaningfully connect with senior technology leaders.

For more information about becoming an Info-Tech LIVE exhibitor, please contact exhibitorservices@infotech.com

About Info-Tech Research Group
Info-Tech Research Group is the “get things done” partner for over 30,000 IT, HR, and marketing leaders worldwide. The fastest growing research and advisory firm, Info-Tech enables leaders to make well-informed decisions and transform their organizations through AI, strategic foresight, step-by-step methodologies, practical tools, industry-leading advisory, and training programs. For nearly 30 years, tens of thousands of private and public organizations have trusted Info-Tech to lead their most important initiatives through periods of change and deliver outcomes that truly matter.

To learn more about Info-Tech’s HR research and advisory services, visit McLean & Company, and for data-driven software buying insights and vendor evaluations, visit the firm’s SoftwareReviews platform.

Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm’s Media Insiders program. To gain access, contact pr@infotech.com.

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SOURCE Info-Tech Research Group

Technology

Trace Systems Wins $64,000,000 U.S Army Follow-On Contract to Deliver Enhanced Deployable Communications Capabilities

Published

12 minutes ago

April 24, 2026

TAMPA, Fla., April 24, 2026 /PRNewswire/ — Trace Systems Inc. (Trace) has been awarded a five‑year, $64,000,000 follow‑on task order under the U.S. Army’s Global Tactical Advanced Communications Systems and Services (GTACS II) contract vehicle to continue delivering critical deployable communications capabilities and services support for U.S. Northern Command (USNORTHCOM) and Western Hemisphere Command-Forward (WHC-FORWARD).

This award extends Trace’s longstanding support for USNORTHCOM’s Deployable Communications Capabilities Systems (DCCS) program, which provides the deployable communications backbone required for disaster response, and mission partner coordination across the USNORTHCOM area of responsibility (AOR). Trace continues to support this vital effort by providing technical support and integration for vehicle mounted mobile command platforms and SATCOM, radio, and other deployable communications systems.

Under the new task order, Trace will continue providing comprehensive services, including system design and modifications, technical refresh, unified communications, satellite and terrestrial transport support, cybersecurity compliance, vehicle integration, and full lifecycle sustainment of DCCS assets. This award highlights Trace’s expertise in modernizing, integrating, and maintaining deployable communications solutions, and supporting operational readiness and mission response for military operations, civil support operations, and exercises.

“USNORTHCOM and WHC-FORWARD’s missions demand a rapid response team capable of delivering mobile, interoperable communications between military forces and civilian response organizations for any mission or disaster relief effort,” said Kenneth Hilton, COO of Trace Systems. “Trace Systems is resolute in supporting a true ‘no fail’ mission and is honored to have supported the DCCS program over the past four years. We look forward to continuing to deliver mission critical communications and emergency response capabilities for USNORTHCOM and WHC-FORWARD.”

#TraceSystems #NORTHCOM #DeployableCommunications #MissionModernization #SATCOM

About Trace Systems
Trace Systems delivers technology-enabled, integrated multi-domain mission solutions, combining secure satellite communications, edge computing, digital modernization, and cyber-resilient architectures worldwide. From orbit to edge, Trace builds the backbone for tomorrow’s defense enterprise.

For more information, visit www.tracesystems.com/

For media inquiries, please contact:
Email: mediarelations@tracesystems.com
Phone: 813-793-7101

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SOURCE Trace Systems Inc

Technology

Driving the Future of Mobility with Technology: Chery at Beijing Auto Show 2026

Published

12 minutes ago

April 24, 2026

WUHU, China, April 24, 2026 /PRNewswire/ — Beijing Auto Show 2026 opened on April 24, bringing together global automotive brands and advanced technologies. As a key barometer of the industry, the show serves as a platform for innovation and exchange. Chery Group appeared with its full brand lineup, including CHERY, EXEED, iCAUR, OMODA & JAECOO, and LEPAS. A total of 15 models made their global debut. The event welcomed over 4,000 guests from more than 100 countries, setting a new record for Chery in both scale and international reach.

At the show, Chery presented breakthrough technologies and a forward-looking strategy. Built on a global brand ecosystem, core technology development, and new energy innovation, the company demonstrated capabilities reshaping industry competition and setting new benchmarks for value creation.

Deepening Global Layout: A Multi-Brand Portfolio Reshaping the Industry Landscape

With a five-brand portfolio developed through years of overseas experience, Chery has formed a multi-scenario ecosystem. Each brand targets specific segments, shifting from broad coverage to precise positioning. Key debuts included Tiggo V, ES GT, EX8, OMODA 4, right-hand-drive V27, and L6 BEV, covering family, premium, and youth mobility needs. The brands operate in synergy, sharing resources and technologies to drive Chery’s shift from scale expansion to value upgrading.

Advanced Architecture Redefines the Upper Limit of Experience: Digital Chassis Breaks the Boundaries of Smart Mobility

Chery showcased next-generation architecture innovations. The Feiyu Digital Intelligent Chassis i integrates steer-by-wire and brake-by-wire, enabling 90 km/h moose test performance and zero-radius tank turns. The GAIA All-Domain System combines amphibious mobility with satellite communication, redefining the vehicle as an all-scenario mobility terminal. The industry-first full-domain 48V system improves efficiency by 15% and meets ASIL D safety standards.

Through continuous breakthroughs, Chery is evolving from a technology follower into a standards setter in global smart mobility.

Full-Chain Energy Efficiency Management Enables Technology Accessibility: System Innovation Addressing Global Mobility Challenges

Chery introduced a full life-cycle energy efficiency system. The KunPeng High Efficiency Engine achieves 48.57% thermal efficiency and 4.0 kWh/L conversion. The DHT360 hybrid system delivers up to 360 kW, enabling full-speed electric driving. The Rhino Battery offers high safety and fast charging, reaching 80% in 12 minutes. The system supports a more efficient and sustainable mobility future.

Website: https://www.cheryinternational.com

Photo – https://mma.prnewswire.com/media/2965344/Image1.jpg

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