Powerfleet completed the acquisition of Fleet Complete from OTPP for $200m.

Powerfleet, a provider of AIoT SaaS solutions for the mobile asset industry, completed the acquisition of Fleet Complete, a provider of essential fleet, asset, and mobile workforce management solutions, from Ontario Teachers' Pension Plan, an investment company, for $200m. “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. We are excited to welcome Fleet Complete to the Powerfleet family and are confident in our ability to deliver enhanced shareholder value moving forward,” Steve Towe, Powerfleet CEO.