ROSH HAAYIN, Israel,
September 9, 2014 /PRNewswire/ --
Pointer Telocation Ltd. (Nasdaq CM: PNTR) - a
leading developer, manufacturer and operator of Mobile Resource
Management (MRM), announced today that it has acquired a 100%
interest in Global Telematics S.A. Proprietary Limited (Global
Telematics), a provider of commercial fleet management and vehicle
tracking solutions in South
Africa.
Since inception in 1997, Global Telematics has designed and
developed telematics solutions that enable businesses to better
manage their fleets, assets, deliveries and on-the-road employees.
With a customer base that includes industry leaders in the
transport & logistics, construction and passenger
transportation sectors the acquisition is expected to be accretive
to Pointer's earnings in 2015.
Paul Roberts, Managing Director
of Global Telematics said: "I'm very excited to be joining forces
with a growing global company in the MRM business enabling us to
leverage our business opportunities, introduce new globally proven
technologies and jointly grow the business going forward. This is
good news for the Global Telematics team and our customers and will
enable us to expand the business into additional territories in
Africa."
David Mahlab, President and CEO
of Pointer said: "We are pleased to announce the successful
completion of our acquisition of Global Telematics S.A. Proprietary
Limited. This acquisition is a strong demonstration of our strategy
to expand our operations and services into new and emerging
markets, leveraging our existing know-how and infrastructure. This
acquisition will help us tap the growth potential in South Africa. Furthermore, establishing a
presence in South Africa will
serve as a gateway into the African continent, where we see
significant opportunity through a strong need for growing
businesses to better manage and track their vehicles and assets. In
addition, we see an opportunity to leverage our technology
solutions both in hardware and software, to increase synergies
between the companies, to improve the marketing position of Global
Telematics in the South African market and to take the business to
the next level."
Forward Looking Statements
This press release contains historical information and
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995 with respect to the
business, financial condition and results of operations of the
Company. The words "believe," "expect," "anticipate," "intend,"
"seems," "plan," "aim," "should" and similar expressions are
intended to identify forward-looking statements. Such statements
reflect the current views, assumptions and expectations of the
Company with respect to the proposed acquisition and other future
events and are subject to risks and uncertainties. Many factors
could cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements that may be expressed or implied by
such forward-looking statements, including, among others, changes
in the markets in which the Company operates and in general
economic and business conditions, loss or gain of key customers and
unpredictable sales cycles, competitive pressures, market
acceptance of new products, inability to meet efficiency and cost
reduction objectives, changes in business strategy and various
other factors, both referenced and not referenced in this press
release. Various risks and uncertainties may affect the Company and
its results of operations, as described in reports filed by the
Company with the Securities and Exchange Commission from time to
time. The Company does not assume any obligation to update these
forward-looking statements.
Contact:
Zvi Fried,
V.P. and Chief Financial Officer
Tel.: +972-3-572-3111
E-mail: zvif@pointer.com
Kenny Green/Ehud Helft, GK Investor Relations
Tel: +1-646-201-9246
E-mail: pointer@gkir.com
SOURCE Pointer Telocation Ltd