CFO Studio magazine with Todd McElhatton

cfostudio.com 19 the combined company, we’ll have the best product out there, so it’s given us the opportunity to accelerate our growth in North America.” The company will change its name to PowerFleet and will be traded on NASDAQ under the symbol PWFL (both I.D. Systems and Pointer are on NASDAQ). It will be in four major markets: Logistics visibility, cargo tracking, fleet management, and connected car. For clients like Walmart, where every trailer already has I.D. Systems’ technology on it, the acquisition means “we’re able to put tags on the actual pallets, so not only will you know where the trailer is, you’ll know what’s inside the trailer,” says Mavrommatis. Clients can then collect information on temperature, humidity, and vibration, and will know immediately if there’s a problemwith their freight. I.D. Systems also provides IoT devices for fleet management that allow companies to know where their vehicles are in real time. Data analysis can help CFOs look at workforce optimization. Pointer is very strong in this area, with a large install base worldwide, and there is a significant opportunity to bring this technology to customers in North America. During due diligence, while visiting a large telecommunication company in Brazil, Mavrommatis was able to see firsthand how data from the IoT devices was used to manage the 5,000 vehicles in the fleet and the workers going out on calls. This improved customers’ experience, as the telecom company was providing more accurate information on timing of service calls. Making the Deal While conflicting long-term plans sometimes end M&A talks, Mavrommatis says both companies had the same vision. “Pointer views the U.S. market as a big opportunity, and they felt that they could be