WOODCLIFF LAKE, N.J., Jan. 30, 2020 (GLOBE NEWSWIRE) -- PowerFleet, Inc. (NASDAQ: PWFL), a global leader and provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicles and truck fleets, has been engaged by All Truck to upgrade its entire fleet of 1,500+ trailers from existing 3G devices to PowerFleet 5G-compatible LTE LV-100 devices.
Specializing in local and regional truckload transportation solutions throughout the Midwest, All Truck selected PowerFleet’s services to help streamline operations and generate increased visibility across its fleet, as the business continues to expand services across the United States. Upgrading the All Truck fleet to LTE LV-100 devices is a critical business initiative enabling All Truck to understand fleet and asset activity in real time so it can quickly manage and respond to customer capacity demand.
“Next generation technology such as the PowerFleet LTE LV-100 devices will be crucial to our expansion across the U.S.,” explained All Truck president, Nino Alagna. “An overhaul of our entire fleet would normally be a massive undertaking, but PowerFleet’s proven technology is flexible and easily integrates to our transportation management software, taking the headache out of the upgrade process.”
Founded in 1978, All Truck built a notable presence in the transportation industry, quickly growing to a 385-truck operation with a 1500+ fleet of trailers. Achieving an annual growth rate of 15%, the company continues to achieve success across the market by providing clients with exceptional care using cutting-edge technology and advancements in the industry.
“Market-leading customer service requires visionary and high-quality solutions, and we understand the pressure that this puts on our customers to adapt, upgrade and scale with the evolving market,” said PowerFleet CEO, Chris Wolfe. “We’re pleased to partner with All Truck to help them get a jump on the upcoming 3G sunset and we look forward to continuing our successful relationship with All Truck to generate value for both the company and their customers.”
About PowerFleet
PowerFleet® Inc. (NASDAQ: PWFL; TASE: PWFL) is a global leader and provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicles and truck fleets. The company is headquartered in Woodcliff Lake, New Jersey, with offices located around the globe. PowerFleet’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. Our offerings are sold under the global brands PowerFleet, Pointer, and Cellocator. For more information, please visit www.powerfleet.com, the content of which does not form a part of this press release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements include statements with respect to PowerFleet’s beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond PowerFleet’s control, and which may cause its actual results, performance or achievements to be materially different from 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. For example, forward-looking statements include statements regarding: prospects for additional customers; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; emerging new products; and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. The risks and uncertainties referred to above include, but are not limited to, future economic and business conditions, the ability to recognize the anticipated benefits of the acquisition, which may be affected by, among other things, the loss of key customers or reduction in the purchase of products by any such customers, the failure of the market for PowerFleet’s products to continue to develop, the possibility that PowerFleet may not be able to integrate successfully the business, operations and employees of I.D. Systems and Pointer, the inability to protect PowerFleet’s intellectual property, the inability to manage growth, the effects of competition from a variety of local, regional, national and other providers of wireless solutions, and other risks detailed from time to time in PowerFleet’s, I.D. Systems’ and Pointer’s filings with the Securities and Exchange Commission, including I.D. Systems’ annual report on Form 10-K for the year ended December 31, 2018, Pointer’s annual report on Form 20-F for the year ended December 31, 2018 and PowerFleet’s registration statement on Form S-4 filed with the Securities and Exchange Commission on May 24, 2019, as amended on July 1, 2019 and July 23, 2019, could cause actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, PowerFleet. Unless otherwise required by applicable law, PowerFleet assumes no obligation to update the information contained in this press release, and expressly disclaims any obligation to do so, whether a result of new information, future events, or otherwise.
PowerFleet Company Contact
Ned Mavrommatis, CFO
NMavrommatis@powerfleet.com
(201) 996-9000
PowerFleet Investor Contact
Matt Glover
Gateway Investor Relations
PWFL@gatewayIR.com
(949) 574-3860
Media Contact
Sara Shaffer
powerfleet@n6a.com