ROSH HAAYIN, Israel,
May 16, 2019 /PRNewswire/
-- Pointer Telocation Ltd. (Nasdaq: PNTR) (TASE: PNTR)
– a leading provider of telematic services and technology
solutions for Fleet Management, Mobile Asset Management and
Internet of Vehicles, announced today that it has received a large
fleet management contract in Brazil valued at up to $6.5 million over five years.
Installations are expected to be completed in the third quarter
of 2019 to support services ramp in the fourth quarter of 2019
based on Pointer's telematic services and technology solutions for
Fleet Management.
This contract is in addition to the $4
million over 2-4 years of other new contracts in
Brazil which we mentioned in our
February 28th 2019 investors
call.
David Mahlab, President and Chief
Executive Officer of Pointer, commented: "We are excited to receive
this new contract in one of our largest target markets. This is an
additional strategic win for Pointer with a key customer. Following
on the North American market expansion opportunity we announced at
the end of 2018, with this contract and others, we expect to see
continued market share gains in 2019."
About Pointer Telocation
For over 20 years, Pointer has rewritten the rules for the
Mobile Resource Management (MRM) market and is a pioneer in the
Connected Car segment. Pointer has in-depth knowledge of the needs
of this market and has developed a full suite of tools, technology
and services to respond to them. The vehicles of the future will be
intimately networked with the outside world, enhancing and
optimizing the in-car experience.
Pointer's innovative and reliable cloud-based
software-as-a-service (SAAS) platform extracts and captures an
organization's critical mobility data points – from office,
drivers, routes, points-of-interest, logistic-network, vehicles,
trailers, containers and cargo. The SAAS platform analyzes the raw
data, converting it into valuable information for Pointer's
customers and providing them with actionable insights, thus
enabling the customers to improve their bottom line and increase
their profitability. For more information, please visit
http://www.pointer.com, the content of which does not form a part
of this press release.
Risks Regarding Forward Looking Statements
Certain statements made herein that use words such as
"estimate", "project", "intend", "expect", "'believe", "may",
"might", "predict", "potential", "anticipate", "plan" or similar
expressions are intended to identify forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995 and other securities laws. For example, when
Pointer discusses the size of the Brazil contract, timing of equipment
installation, and future expansion in North America and execution of existing
agreements in Brazil, it is using forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties that could cause the actual
results, performance or achievements of the Company to be
materially different from those that may be expressed or implied by
such statements, including, among others, changes in general
economic and business conditions. For additional information
regarding these and other risks and uncertainties associated with
the Company's business, reference is made to the
Company's reports filed from time to time with the U.S.
Securities and Exchange Commission. The Company does not
undertake to revise or update any forward-looking statements for
any reason.
Company contact:
Yaniv Dorani, CFO
Tel:
+972-3-5723111
E-mail: yanivd@pointer.com
Investor Relations Contact at Hayden IR, LLC:
Brett
Maas
Tel: +1-646-536-7331
E-mail: brett@haydenir.com
David Fore
Tel:
+1-206-395-2711
E-mail: dave@haydenir.com
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SOURCE Pointer Telocation Ltd