Brief: Mix Telematics And Powerfleet Announce Transformative Business Combination

PowerFleet

10/10/2023 12:08

Oct 10 (Reuters) - MIX Telematics Ltd  MIXJ.J :
    * POWERFLEET AND MIX TELEMATICS ANNOUNCE TRANSFORMATIVE
BUSINESS
COMBINATION
    * MIX TELEMATICS LTD - EXPECTED TO CREATE A DAY ONE BUSINESS
WITH
TOTAL REVENUE OF $279 MILLION
    * MIX TELEMATICS LTD - TRANSACTION IS EXPECTED TO CLOSE IN
Q1 OF
CALENDAR YEAR 2024.
    * MIX TELEMATICS LTD - COMBINATION IS EXPECTED TO UNLOCK
SIGNIFICANT ANNUAL EBITDA EXPANSION WITHIN FIRST TWO YEARS
    * MIX TELEMATICS: IN CONNECTION WITH DEAL, POWERFLEET, CO
POSITIONED TO SECURE $75 MILLION INCREMENTAL DEBT WHICH COS
EXPECT FULLY EXECUTED AT/BEFORE CLOSE

Source text for Eikon:  ID:nPn2R8YzFa 
Further company coverage:  MIXJ.J 

 ((Reuters.Briefs@thomsonreuters.com;))