Powerfleet, Inc. (company) and MiX Telematics Limited have successfully closed their previously announced business combination, forming one of the world's largest mobile asset Artificial Intelligence of Things (AIoT) Software-as-a-Service (SaaS) providers. In connection with the transactions and effective as of the closing date (April 2, 2024), Anders Bjork, Michael Casey, Charles Frumberg, Elchanan Maoz and Medhini Srinivasan resigned as directors of the Company and Ian Jacobs and Michael McConnell were appointed to the board of directors of the Company (Board). Steve Towe, the company's Chief Executive Officer, and Michael Brodsky remain on the Board and Mr. Brodsky remains the Chairman of the Board.

The Board has appointed Messrs. Brodsky, Jacobs and McConnell as members of the Audit Committee, Compensation Committee and Nominating Committee of the Board.