Powerfleet completes Fleet Complete acquisition; acquired entity had FY2023 revenue CAD $139.3M and net loss CAD $17.4M

Powerfleet, Inc.

Acquisition closed Oct 1, 2024; purchase agreement dated Sep 18, 2024.
Complete Innovations FY2023 (Sep 30): revenue CAD $139.3M, net loss CAD $17.4M, total assets CAD $141.5M.
Total liabilities CAD $231.0M, shareholders' deficiency CAD $89.5M as of Sep 30, 2023.
Goodwill CAD $44.1M and intangible assets CAD $12.6M recorded; bank operating loan CAD $198.9M.
Pro forma combined financials for Powerfleet, MiX Telematics, and Complete Innovations for six months ended Sep 30, 2024 provided.

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