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Powerfleet Closes Strategic Acquisition of Fleet Complete

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Acquisition Expected to Create a $400m+ Revenue Company, Including $300m+ of Recurring SaaS Revenue, $85m EBITDA, and Significant Expansion Opportunities

WOODCLIFF LAKE, N.J., Oct. 1, 2024 /PRNewswire/ — Powerfleet, Inc. (Nasdaq: AIOT) has successfully closed the previously announced acquisition of Fleet Complete, a prominent player in connected vehicle technology and fleet management.

With 2.6 million total combined subscribers and forecasted combined revenue of over $400 million, including more than $300 million of recurring SaaS revenue, this transformative acquisition is expected to solidify Powerfleet’s position as a true global leader in the rapidly expanding AIoT market.

“We are thrilled to have completed this transformative and highly accretive transaction. This acquisition immediately scales our presence in both North America and Europe while unlocking substantial top-line growth opportunities through Fleet Complete’s established indirect channel partnerships, particularly in the U.S. and Canada. Moreover, the acquisition enhances Unity’s data ingestion and integration capabilities, adding 600,000 new subscribers while expanding cross-sell opportunities and strengthens our position in the fast-growing AI-powered video market with Fleet Complete’s FC Vision solution,” said Steve Towe, CEO of Powerfleet. “We are excited to welcome Fleet Complete to the Powerfleet family and are confident in our ability to deliver enhanced shareholder value moving forward.”

ABOUT POWERFLEET
Powerfleet (Nasdaq: AIOT; JSE: PWR) is a global leader in the artificial intelligence of things (AIoT) software-as-a-service (SaaS) mobile asset industry. With more than 30 years of experience, Powerfleet unifies business operations through the ingestion, harmonization, and integration of data, irrespective of source, and delivers actionable insights to help companies save lives, time, and money. Powerfleet’s ethos transcends our data ecosystem and commitment to innovation; our people-centric approach empowers our customers to realize impactful and sustained business improvement. The company is headquartered in New Jersey, United States, with offices around the globe. Explore more at www.powerfleet.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of federal securities laws. Powerfleet’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements may be identified by words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions.

These forward-looking statements include, without limitation, Powerfleet’s expectations with respect to its beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions and future performance, as well as anticipated financial impacts of the acquisition of Fleet Complete. Forward-looking statements involve significant known and unknown risks, uncertainties and other factors, which may cause their actual results, performance or achievements to be materially different from the 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. Most of these factors are outside Powerfleet’s control and are difficult to predict. The risks and uncertainties referred to above include, but are not limited to, risks related to: (i) the ability to realize the anticipated benefits of the acquisition of Fleet Complete; (ii) the ability to successfully integrate the businesses; (iii) disruption from the acquisition of Fleet Complete making it more difficult to maintain business and operational relationships; (iv) the negative effects of the consummation of the acquisition of Fleet Complete on the market price of Powerfleet’s securities; (v) significant transaction costs and unknown liabilities; (vi) litigation or regulatory actions related to the acquisition of Fleet Complete; and (vii) such other factors as are set forth in the periodic reports filed by Powerfleet with the Securities and Exchange Commission (“SEC”), including but not limited to those described under the heading “Risk Factors” in its annual reports on Form 10-K, quarterly reports on Form 10-Q and any other filings made with the SEC from time to time, which are available via the SEC’s website at http://www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those indicated or anticipated by these forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.

The forward-looking statements included in this press release are made only as of the date of this press release, and except as otherwise required by applicable securities law, Powerfleet assumes no obligation, nor does Powerfleet intend to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.

Powerfleet Investor Contacts
Carolyn Capaccio and Jody Burfening
LHA Investor Relations
AIOTIRTeam@lhai.com

Powerfleet Media Contact
Jonathan Bates
jonathan.bates@powerfleet.com
+44 7921 242 892

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SOURCE Powerfleet

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DELTA ELECTRONICS’ ENERGY-EFFICIENT PRECISION COOLING TECHNOLOGY TAKES CENTER STAGE AT DATA CENTRE WORLD ASIA 2024

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SINGAPORE, Oct. 2, 2024 /PRNewswire/ — Delta, a global leader in power management and provider of IoT-based smart green solutions, is set to showcase its state-of-the-art precision cooling technology at Data Centre World (DCW) Asia 2024, happening from October 9-10 at the Marina Bay Sands, Singapore. Seamlessly blending infrastructure with design innovation, Delta will highlight its exemplary solutions at DCW 2024, including the Air-Assisted Liquid Cooling (AALC) system and the Coolant Distribution Unit (CDU), both designed for efficient circuit separation in high-performance computing.

“Our commitment to boosting data center sustainability is reflected in our innovative energy storage solutions, which are integral to our next generation of data centers,” said Mr David Leal, Vice President of SEA Business, Delta. “By tackling power resilience and reliability head-on, we’re not only enhancing operational efficiency but also ensuring that our customizable solutions provide unmatched reliability and cooling measures, whether for retrofitting existing facilities or supporting scalable growth in new projects.”

As AI technology progresses, the demand for more powerful and efficient servers continues to grow. High-performance servers, with central processing units or graphics processing units as their most energy-intensive components, necessitate advanced cooling solutions to manage increasing energy consumption.

At DCW Asia 2024, Delta will present its AALC system designed for High-Performance Computing and Artificial Intelligence workloads in data centers. The AALC offers a closed-loop liquid solution, eliminating the need for raised floors or facility piping, and delivers cooling density 2.5 times greater than air cooling with minimal power consumption (<3%). Additionally, Delta’s AALC includes customizable options to ensure reliability through redundant components and hot-swappable features, making it an ideal choice for data center retrofits and scalable growth.

Also on display will be the CDU, an essential component in liquid cooling systems that distributes coolant or water evenly throughout the system. Delta’s CDU elevates high-performance computing by efficiently separating facility and secondary circuits, with precise control of overflow, pressure, temperature, and coolant quality, while ensuring high reliability through a 10″ LCD monitoring screen, pump failure prediction, stainless steel piping, a 50-micron filter, redundant sensors, and water leakage detection, all designed to enhance operational reliability and minimize data center Power Usage Effectiveness.

Delta remains dedicated to developing smart, sustainable solutions that meet the evolving needs of modern data centers. By collaborating with ecosystem partners, Delta continues to innovate and strengthen the market with energy-efficient products that not only optimize performance but also contribute to a greener future.

DCW 2024 is held at the Marina Bay Sands, Singapore, from October 9-10 2024, and connects data center professionals, technologists, and business leaders with experts, solutions, and services to help accelerate digital transformation plans.

Learn more about Delta at DCW 2024 here.

–          End     –

ABOUT DELTA ELECTRONICS INT’L (Singapore)

The company is a wholly owned subsidiary of Delta Electronics, Inc.

ABOUT DELTA

Delta, founded in 1971, is a global leader in switching power supplies and thermal management products with a thriving portfolio of smart energy-saving systems and solutions in the fields of industrial automation, building automation, telecom power, data center infrastructure, EV charging, renewable energy, energy storage and display, to nurture the development of smart manufacturing and sustainable cities. As a world-class corporate citizen guided by its mission statement, “To provide innovative, clean and energy-efficient solutions for a better tomorrow,” Delta leverages its core competence in high-efficiency power electronics and its ESG-embedded business model to address key environmental issues, such as climate change. Delta serves customers through its sales offices, R&D centers and manufacturing facilities spread over close to 200 locations across 5 continents.

Throughout its history, Delta has received various global awards and recognition for its business achievements, innovative technologies and dedication to ESG. Since 2011, Delta has been listed on the DJSI World Index of Dow Jones Sustainability™ Indices for 13 consecutive years. Delta has also won CDP with double A List for three times for its substantial contribution to climate change and water security issues and has been named Supplier Engagement Leader for its continuous development of a sustainable value chain for seven consecutive years.

For detailed information about Delta, please visit: www.deltaww.com

 

 

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SOURCE Delta Electronics

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Desay SV Honored as Most Popular Employer Among Employees in Forbes China Best Employer Selection 2024

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HUIZHOU, China, Oct. 2, 2024 /PRNewswire/ — Desay SV (002920.SZ), a leading mobility technology company, has been named the Most Popular Employer Among Employees in the Forbes China 2024 Best Employer Selection, standing out among 500 companies.

Forbes China has gathered over 500 samples and more than 100,000 questionnaires to identify benchmark companies excelling in digital intelligence, ESG, and employee popularity. Employees were asked to anonymously rate their companies in categories such as employer image, organizational management, talent development, work environment, compensation and benefits, and digital intelligence. Ten companies were selected as the most popular employers among employees. Desay SV’s achievement in this selection highlights its dedication to creating a work environment that fosters talent and prioritizes inclusivity, safety, and equality.

Gao Dapeng, the chairman and president of Desay SV, offered a perspective on the essence of corporate excellence. “True distinction for a company lies not merely in its profit margins, but in its contributions towards the well-being of its employees, the vitality of the local community, and the advancement of society at large,” Gao stated. Highlighting the company’s dedication to human resources excellence, he further elaborated, “Desay SV is deeply committed to the growth and development of our talent. We provide a holistic, cross-cultural, multidisciplinary, and multi-channel development platform, firmly anchored in our fundamental belief in fostering learning for growth and driving innovation for development.”

About Desay SV

Desay SV is a leading mobility technology company with R&D and service branches in Germany, Japan, Singapore, Spain, USA, etc. The company focuses on efficiently integrating smart cabin, smart drive, and smart service. Relying on 38 years of accumulation, Desay SV has excelled in R&D, design, quality management, and intelligent manufacturing. Desay SV’s continuous innovation and comprehensive capabilities earn the long-term trust of global customers, including Chery, Geely, SAIC, Toyota, Volkswagen, Volvo, etc., and have helped it rank 74th in the Automotive News 2024 top 100 global auto parts suppliers. For more information, please visit Desay SV online at www.desaysv.com or follow us on: https://www.linkedin.com/company/13690363

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SOURCE Desay SV

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Trend Micro launches AI-powered app to help combat Singapore’s growing scam problem

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New mobile app for consumers addresses rising concerns as more than 4 in 5 Singaporeans worry about family members falling victim to scams

SINGAPORE, Oct. 2, 2024 /PRNewswire/ — Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global leader in cybersecurity, today announced the launch of Trend Micro Check, a multi-featured mobile app uniquely designed to help consumers identify potential scams and growing AI threats such as deepfakes. Trend Micro’s one-of-a-kind AI-powered solution allows consumers to submit content such as messages, ads, or social media posts to help them quickly determine if it can be trusted or not, and will also help them verify if a live video call is a deepfake.

Tim Falinski, VP Consumer Business, AMEA at Trend: “Scams are at the top of the list of online threats to consumers, and AI has made it easy for cybercriminals to scam innocent people. While they take advantage of new technology to cause harm, we do the opposite. We are leading the race against these threats and working tirelessly to stay ahead of them with our own AI capabilities.”

Scams have been a growing problem in Singapore, with victims losing S$651.8 million last year. A recent Trend Micro study of 1,020 Singaporean consumers revealed that 68% of respondents believed the volume and risk of online scams have gotten worse over the last year, and 85% stated they were worried a family member might become a victim of an online scam. In addition, 97% of consumers said they would take action if it would help protect themselves, their families, and others from the work of scammers. 

While 69% of respondents said they were somewhat or very confident they could identify online scams, 74% said they would still use an app that could help them quickly verify if an email, social media post, online ad, text message, or phone number was a scam.

“With more than $1 trillion lost by consumers worldwide to scams last year, more must be done to protect them” said Jorij Abraham, Managing Director of the Global Anti-Scam Alliance. “As our first Foundation Partner, Trend Micro is clearly committed to stopping this problem by delivering tools like the AI-powered capabilities in Trend Micro Check, and by supporting and participating in the important work we do. We applaud Trend’s dedication to this cause and their technical leadership in using AI against the misuse of AI.”

Online scammers have been successful in part because AI tools allow them to create deceptive content that in turn elicits an emotional response from consumers. With a tool like Trend Micro Check, consumers can proactively block scams before seeing them, receive real-time alerts about scams before they can do harm, and most importantly, easily and instantly verify if something is a scam before they can be deceived by it. The app offers a powerful and unique set of features including:

•  Scam Check: AI-powered tool providing real-time assessment of the likelihood that content (e.g. social ad, text or email message, website URL or more) is a scam. The tool returns an easy-to-understand summary of the potential security concerns, along with recommended actions.
•  Deepfake Scan: Identifies potential AI “face-swapping” scam attempts during live video calls.
•  SMS Filter: Automatically filters out spam and scam text messages before it hits the inbox.
•  Web Guard: Blocks risky websites and filters out suspicious ads.

Trend Micro Check is now available to download for iOS and Android devices in select countries. For additional details about Trend Micro Check, including device requirements and feature and language availability, visit https://www.trendmicro.com/tmcheck.

As part of its mission to fight back against online scams, Trend Micro will also be Chairing the Cybersecurity Scam Prevention and Investigations track at the Global Anti-scam Alliance Summits in Singapore on October 21-22, and in Washington D.C. on November 12-13, 2024. For more information or to register for the summits, visit: https://www.gasa.org/all-events.

About Trend Micro 
Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro’s AI-powered cybersecurity platform protects hundreds of thousands of organisations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, Trend’s platform delivers a powerful range of advanced threat defense techniques optimised for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 70 countries, Trend Micro enables organisations to simplify and secure their connected world. www.TrendMicro.com.

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SOURCE Trend Micro

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