Two providers of global fleet asset management and telematics solutions have merged to form a newly created holding company that will support a connected vehicle strategy and operate across 80 countries.
The U.S.-based I.D. Systems will merge with Pointer Telocation, which operates in Israel, to form PowerFleet, a newly-created holding company, according to a release both companies. Pointer specializes in telematics and mobile IoT solutions to the automotive, insurance and logistics (cargo, assets and containers) industries; while I.D. Systems offers solutions for securing, controlling, tracking, and managing high-value enterprise assets such as industrial vehicles, rental cars, trailers, containers, and cargo.
Both I.D. Systems and Pointer will each become wholly-owned subsidiaries of PowerFleet, Inc.
"By joining our platforms and solutions, we will create immediate leverage and greatly accelerate the combined company's connected vehicle strategy. Ultimately, all vehicles will be connected in order to optimize the in-car and fleet-management experience, and our combined offering will help to better facilitate and fast-track this vision," said I.D. Systems CEO, Chris Wolfe.