Mayer Brown advises Powerfleet on the acquisition of Movingdots from Swiss Re
Mayer Brown advised Powerfleet, Inc., a global provider of telematics and IoT solutions for professional fleets and consumers, on the acquisition of Movingdots GmbH from Swiss Re.
Movingdots GmbH is a developer of insurance telematics and sustainable mobility solutions and a subsidiary of one of the world’s leading re-insurers, Swiss Re. A developer of data-driven mobility solutions for insurers, car manufacturers and platform providers worldwide is listed among the top 250 global insurtechs to watch by Digital Insurance Agenda.
The deal will see a combined company that delivers precisely architected insurance solutions to the global market in a sustainable, profitable, and scalable way.
Powerfleet (Nasdaq: PWFL; TASE: PWFL) is a global leader of IoT SaaS solutions that optimize the performance of mobile assets and resources to unify business operations. The Company offers solutions for industrial trucks, rental vehicles, and transportation assets and serves over 8,000 customers worldwide. It is headquartered in Woodcliff Lake, New Jersey, with its Pointer Innovation Center (PIC) in Israel and field offices around the globe.
The Mayer Brown Team was led by Corporate & Securities counsel Tina Hoffmann and included: Corporate & Securities – partner Dr. Marco Wilhelm, associates Inga Rupp and Julian Wantzen; IP – counsel Konstantin von Werder; Employment & Benefits – counsel Vanessa Klesy and Tax – partner Volker Junge, counsel Thomas Dieker and senior associate Kai Yan (all Frankfurt).