---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-039073"
form_type: "8-K"
ticker: "AIOT"
cik: "0001774170"
company_name: "Powerfleet, Inc."
filed_at: "2024-10-02T23:59:59+00:00"
generated_at: "2026-05-30T22:45:26.082067+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Powerfleet closes $200M Fleet Complete acquisition, expects $400M+ revenue, $85M EBITDA

## Summary
- Acquired Fleet Complete for $200M using $125M term loan, $70M private placement (20M shares at $3.50), and $15M in rollover shares to OTPP.
- Combined company forecasts $400M+ revenue, $300M+ recurring SaaS revenue, $85M EBITDA; 2.6 million total subscribers.
- $125M term loan from FirstRand Bank (RMB) at 5% + SOFR, matures in 5 years, secured by share capital of certain subsidiaries.
- Private placement shares and OTPP rollover shares granted resale registration rights; directors/NEOs subject to 60-day lock-up.
- Deal closed on Oct 1, 2024; expected to solidify Powerfleet's global AIoT leadership and expand cross-sell opportunities.

## SEC filing metadata
- accession: 0001493152-24-039073
- form_type: 8-K
- ticker: AIOT
- cik: 0001774170
- company_name: Powerfleet, Inc.
- filed_at: 2024-10-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1774170/000149315224039073/0001493152-24-039073-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1774170/000149315224039073/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-039073
- JSON: https://secwatch.observer/filing/0001493152-24-039073.json
- Plain text: https://secwatch.observer/filing/0001493152-24-039073.txt

## Key facts
- M&A Transactions
  Powerfleet, Inc. completed an acquisition involving Golden Eagle Topco, LP and other sellers for $200 million (closed 2024-10-01).
  - Action: acquisition
  - Counterparty: Golden Eagle Topco, LP and other sellers
  - Consideration: $200 million
  - Closing: 2024-10-01
  source text: in exchange for payment by the Purchasers of an aggregate purchase price of $200 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1774170/000149315224039073/0001493152-24-039073-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.