WOODCLIFF LAKE, N.J., June 30, 2026 /PRNewswire/ — Powerfleet, Inc. (the “Company”) (Nasdaq: AIOT), a global leader in the artificial intelligence of things (AIoT) software-as-a-service (SaaS) mobile asset industry, announced that its board of directors has approved a stock repurchase program, authorizing the Company to repurchase, from time to time, up to an aggregate of $30 million of the Company’s common stock over the next 24 months.

The stock repurchase program provides the Company with flexibility to repurchase shares opportunistically as part of its broader capital allocation strategy. The timing, manner, price and amount of any repurchases will depend on a variety of factors, including market conditions, applicable legal requirements, and the Company’s financial condition and capital allocation priorities. The stock repurchase program does not obligate the Company to repurchase any specific number of shares or any shares at all and may be modified, suspended or discontinued at any time.

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. Powerfleet has a primary listing on The Nasdaq Global Market and a secondary listing on the Main Board of the Johannesburg Stock Exchange (JSE).

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, our expectations with respect to our beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions and future performance, as well as our expectations regarding the implementation, timing, amount and potential benefits of our stock repurchase program, including the timing, manner, price and amount of any repurchases, and our capital allocation strategy. Forward-looking statements involve significant known and unknown risks, uncertainties and other factors, which may cause our 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 our control and are difficult to predict. The risks and uncertainties referred to above include, but are not limited to, risks related to: (i) the possibility that we may not fully realize the anticipated benefits of our acquisitions and ongoing business transformation initiatives; (ii) significant losses, accumulated deficits and an inability to achieve or sustain profitability; (iii) future global economic, political and business conditions, including inflation, interest rate increases, foreign exchange instability, geopolitical conflicts, sanctions, export controls and the potential imposition of tariffs; (iv) the commercial, financial, reputational and regulatory risks to our business associated with operating across multiple geographies, including exposure to foreign exchange fluctuations and economic instability in certain emerging markets; (v) disruptions in our global supply chain, performance issues or failures by subcontractors, and reliance on a limited number of suppliers for critical components and services; (vi) the loss of any of our key customers, reductions in customer demand or purchasing levels, and reliance on third-party channel partner relationships, including telecommunication companies and regional distributors; (vii) changes in technology, products and customer expectations, which may be more rapid, costly or difficult to address, or less effective, than anticipated; (viii) risks associated with the deployment and use of artificial intelligence and machine learning technologies, including operational, legal, regulatory and reputational risks arising from their development, use or outputs; (ix) potential breaches, disruptions or failures of our information technology systems, including risks that could impair operations, customer access to services, or vendor and customer relationships; (x) our inability to adequately protect our intellectual property rights or defend against third-party intellectual property claims; (xi) our ability to obtain additional capital to fund our operations; and (xii) such other factors as are set forth in the periodic reports filed by us with the Securities and Exchange Commission (SEC), including but not limited to those described under the heading “Risk Factors” in our 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, we assume no obligation, nor do we intend to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.

Powerfleet Investor Contacts
Carolyn Capaccio and Jody Burfening
Alliance Advisors IR
AIOTIRTeam@allianceadvisors.com

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

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SOURCE Powerfleet

NEW YORK, June 30, 2026 /PRNewswire/ — Allison Transmission Holdings Inc. (NYSE: ALSN) will replace Goodyear Tire & Rubber Co. (NASD: GT) in the S&P MidCap 400, and Goodyear Tire & Rubber will replace Stellar Bancorp Inc. (NYSE: STEL) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, July 6. S&P MidCap 400 constituent Prosperity Bancshares Inc. (NYSE: PB) is acquiring Stellar Bancorp in a deal expected to close July 1.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/. 

FOR MORE INFORMATION:

S&P Dow Jones Indices
index_services@spglobal.com

Media Inquiries
spdji.comms@spglobal.com

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SOURCE S&P Dow Jones Indices

Australian fintech Inlogik appoints Charles Crane as CEO to lead its next phase of growth

SYDNEY, July 1, 2026 /PRNewswire/ — The commercial banking battleground is shifting.

Increasingly, the question is not just who holds the account or processes the transaction. It is who owns the experience around commercial spend, payments, approvals, controls, data and decision-making.

As embedded finance, B2B payments, AI and workflow automation reshape commercial banking, banks need to move beyond standalone portals and products and become part of the everyday systems where businesses manage financial decisions.

Australian fintech Inlogik today announced the appointment of Charles Crane as Chief Executive Officer, with the leadership transition reflecting the company’s next phase of growth and its focus on helping banks compete in this changing market.

“The real risk for banks is not losing the payment,” Crane said. “It is losing the customer relationship around how commercial finance is managed, approved, controlled and understood.”

“Businesses increasingly expect banking to be embedded into the workflows they already use. The banks that deliver connected financial experiences, not just payment infrastructure, will be the ones that strengthen customer relationships over the next decade.”

Fintechs and software platforms are moving quickly into those workflows. Banks still own much of the underlying financial infrastructure, but others are increasingly shaping how customers experience it.

Crane said this is not just a threat for banks. It is also a major opportunity.

“Banks already have what customers value most: trust, capital, treasury expertise, regulatory capability and long-standing relationships,” he said. “The challenge is connecting those strengths into the way businesses now operate, so commercial banking becomes more connected, more intelligent and increasingly autonomous.”

For more than 30 years, Inlogik has partnered with banks, issuers, enterprises and government organisations to modernise commercial finance through commercial card management, B2B payments, expense management, workflow automation and embedded banking capabilities.

Today, the company is expanding its Spend Platform into a connected commercial finance platform that brings together payments, cards, policy controls, approvals, AI-assisted decisioning and financial insights in one ecosystem.

The aim is simple: help banks deliver fintech-quality customer experiences without replacing core banking infrastructure or compromising governance, resilience and trust.

Richard Eskell, who has led Inlogik for more than three decades, will transition to the role of Founder and Board Director.

“Commercial finance has evolved from an operational function into a strategic capability that influences customer experience, governance and financial performance,” Eskell said. “Charlie has played a significant role in shaping our long-term strategy, and I have complete confidence in his leadership as Inlogik enters its next phase of growth.”

Crane said artificial intelligence will accelerate the transformation of commercial banking, but only where it delivers practical outcomes for banks and finance teams.

“AI is not about replacing finance professionals or creating more complexity,” he said. “It is about helping organisations reduce friction, improve compliance and make better financial decisions. Over time, financial systems will move beyond automation towards trusted autonomous decisioning, with clear policy, controls and human oversight.”

Looking ahead, Crane expects commercial finance to become more embedded, connected and workflow-native.

“The question is not whether commercial finance becomes more intelligent,” he said. “It is whether banks remain at the centre of that experience as financial decision-making moves into the business systems their customers already use. The institutions that combine trusted banking infrastructure with intelligent software will define the next era of commercial banking.”

About Inlogik

Inlogik specialises in commercial spend, helping banks, businesses and finance teams, manage card programs and B2B spend with more clarity and less complexity.

Built on more than three decades of experience operating inside real banking infrastructure, Inlogik’s Spend Platform connects card solutions, expense solutions, approvals, analytics, AI-guided automation, and embedded banking experiences into one proven ecosystem.

Designed for financial institutions and the corporates they serve, Inlogik helps organisations strengthen governance, improve visibility, reduce friction, and move forward with confidence.

Interview Opportunities

Charles Crane is available for media interviews on:

Why the next era of commercial banking will be connected, embedded, and increasingly autonomousFrom embedded finance to autonomous banking: what changes next for banks and their commercial customersWhy banks risk losing the commercial spend relationship to fintechsWhy the next fintech battleground is commercial banking, not consumer bankingHow banks can offer fintech-like experiences without rebuilding core infrastructureWhat AI can actually do in commercial spend beyond the hypeHow agentic commerce could reshape commercial banking, payments, and financial operationsWhy workflow-native, region-agnostic banking experiences are becoming strategically importantPractical AI adoption in banking: where automation ends and autonomy beginsHow banks can modernise commercial finance without replacing core infrastructureWhat Inlogik’s business strategy signals about the future of commercial spend, customer value, and connected banking

Media Contact:

Nandita Graham
Senior Global Marketing Manager
Nandita.graham@inlogik.com

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SOURCE Inlogik