PowerFleet, Inc. (NasdaqGM:PWFL) entered into a definitive share purchase and transfer agreement to acquire Movingdots Gmbh from Swiss Re AG (SWX:SREN) on March 6, 2023. Issuance by the PowerFleet of a ten-year warrant to purchase 800,000 shares of the PowerFleet's common stock. Movingdots's 50 employees will become part of PowerFleet. The transaction is expected to close in the first quarter of 2023. Marco Wilhelm, Tina Hoffmann, Konstantin von Werder, Volker Junge, Vanessa Klesy and Thomas Dieker of Mayer Brown LLP acted as legal advisor to PowerFleet, Inc. (NasdaqGM:PWFL).

PowerFleet, Inc. (NasdaqGM:PWFL) completed the acquisition of Movingdots Gmbh from Swiss Re AG (SWX:SREN) on March 31, 2023.