Pointer Telocation Explained

Pointer Telocation Ltd.
Type:Public
Traded As:NASDAQ:
Predecessor:Nexus Telocation Systems Ltd.
Successor:PowerFleet
Location City:Rosh HaAyin
Location Country:Israel
Key People:David Mahlab (CEO & Pres.)
Revenue: US$ 73.86 million (2010)
Operating Income: US$ 6.64 million (2010)
Net Income: US$ 1.13 million (2010)
Parent:DBSI Investments Ltd.
Subsid:Shagrir Systems Ltd.
Footnotes:[1]

Pointer Telocation was a publicly traded company, headquartered in Israel, that developed automatic vehicle location solutions and provided roadside automotive service. Its shares were traded on the NASDAQ Capital Market and were listed on the Tel Aviv Stock Exchange until 2012, and then again starting April 2016. In October 2019, the company merged with I.D. Systems, Inc., to form PowerFleet.[2]

Operations

Pointer Telocation operates in two areas of the motor vehicle services industry. The company provides RF- and GPS/GPRS-based automatic vehicle location solutions and command-and-control systems for fleet management and stolen vehicle recovery; and in addition, through its Shagrir subsidiary, it provides roadside assistance to motorists.[3]

Corporate history

Pointer was originally the name of a product developed by Nexus Telecommunications Systems Ltd. and marketed by Eden Telecom Ltd., beginning in 1999 with Eden's founding. The product's name was inspired by the Pointer dog breed. At the time of its establishment Eden was a joint venture of four Israeli investors: Motorola, Nexus, Poalim Investments, and Clal. In 1997 Nexus Telecommunications Systems changed its name to Nexus Telocation Systems Ltd. In 2002 Eden changed its name to Pointer. In 2004 Nexus Telocation Systems acquired Pointer and in 2006 changed its name to Pointer Telocation Ltd.[4] [5] [6] [7] [8] [9] In May, 2006, Pointer Telocation signed an agreement with Latin American customer netting approximately $1.4 million, which was recorded as a one time income in Q2 2006 financial results. In addition, a new service level agreement was being negotiated with the customer to govern future activities.[10]

Shaul Elovitch's Eurocom Group began accumulating shares of Pointer in August 2008, acquiring 9.03% of the company.[11] [12] Since December 2008 Eurocom holds 14.66% of Pointer's shares. DBSI Investments controls 37.27% of the company.[13]

Management

Giora Inbar, formerly commander of the Lebanon Liaison Unit of the Israel Defense Forces, was brought on board Eden Telecom as CEO with the company's founding in 1999. He left the position as part of the 2004–2005 deal to merge Shagrir with Pointer. In 2005 Danny Stern was appointed CEO and president of Pointer. He vacated the positions in 2011, whereupon David Mahlab became Pointer's CEO and president.[14] [15] [16]

Acquisitions

CompanyYearPriceDetails
Safecom 
Shagrir2004–2005NIS 200 million
Cellocator Ltd.NIS 62 million
Car2GoNIS 6 million
TCM Transportation Ltd.NIS 2.5 million

See also

Notes and References

  1. Web site: PNTR Income Statement. Yahoo! Finance. 13 November 2011. 2011.
  2. Pointer Telocation Closes Acquisition by I.D. Systems . . October 3, 2019.
  3. News: Miller. Zack. Green Road raised almost $20m — where's Pointer Telocation (PNTR)?. 13 November 2011. Boston Globe. 27 July 2008. Israel Opportunity Investor.
  4. News: Motorola, Clal, Nexus, Poalim Investments to Set Up Car Tracking Company. 13 November 2011. Globes. 25 March 1999.
  5. News: de la Fuente. Susan. Keeping track of your vehicle with Israel's Pointer. 13 November 2011. Israel21c. 13 April 2009. Named after a species of tracking dog, the 10-year-old company has developed a range of high-tech security solutions that use sophisticated wireless communications technology, for vehicles on the move..
  6. News: Nexus Telocation Systems Ltd. Announces Closing of Agreement for Purchase of All Outstanding Shares of Pointer (Eden Telecom Group) Ltd.. 13 November 2011. IVC Research Center. 27 June 2004. PR Newswire. https://archive.today/20070810083415/http://www.ivc-online.com/ivcWeeklyItem.asp?articleID=1878. 10 August 2007. dead.
  7. News: he:עדן טלקום משנה את שמה לפוינטר ומשקיעה 100 אלף דולר במיתוג דרך משרד הפרסום הוס סמואל. http://www.themarker.com/advertising/1.137312. 13 November 2011. TheMarker. 25 July 2002. Hebrew. Eden Telecom changes name to Pointer and invests $100,000 in branding via Huss Samuel advertising agency. חברת עדן טלקום הודיעה על שינוי שמה לפוינטר (מבית עדן טלקום) במסגרת מיתוג מחדש..
  8. News: he:אולי שינוי השם יצליח לשנות את הקארמה: נקסוס הופכת לפוינטר טלוקיישן. http://www.globes.co.il/news/article.aspx?did=1000063591. 13 November 2011. Globes. 20 February 2006. Hebrew. Perhaps a change of name will effect a change in karma: Nexus changes to Pointer Telocation. אולי זה מה שהוביל את נקסוס לנסות לפתוח דף חדש, ולהודיע אתמול על שינוי שם החברה ל'פוינטר טלוקיישן'.. חביב . שירי .
  9. Web site: Pointer Telocation Ltd: Information on the Company. EDGAR Online. 13 November 2011. 29. 30 March 2011.
  10. Web site: Pointer Telocation to Sign a $1.4 Million Agreement.. May 26, 2006.
  11. Web site: Review: mobile spy. 20 June 2017.
  12. News: Zalik. Nir. he:יורוקום של שאול אלוביץ' הופכת לבעלת עניין בפוינטר - קנתה כ-429 אלף מניות ומחזיקה ב-9.03% מהחברה. http://www.themarker.com/wallstreet/1.423702. 13 November 2011. TheMarker. 5 August 2008. Hebrew. Shaul Elovitch's Eurocom becomes interested shareholder in Pointer – acquired some 429,000 shares and holds 9.03% of the company. חברת יורוקום שבשליטת שאול אלוביץ' הודיעה לרשות ניירות ערך האמריקאית כי היא הפכה לבעלת עניין בחברת פוינטר טלוקיישן, המתמחה באספקת שירותי איתור ותיקון לכלי רכב..
  13. Web site: Pointer Telocation Ltd: List of Interested Parties. Tel Aviv Stock Exchange. 13 November 2011. 2011.
  14. News: Hadas. Guy. he:הכלב של פוינטר לומד טריקים חדשים. http://www.themarker.com/hitech/1.53447. 13 November 2011. TheMarker. 18 February 2001. Hebrew. Pointer's dog learns new tricks. כשבעלי המניות של חברת עדן טלקום גייסו ב-1999 את גיורא ענבר לתפקיד מנכ"ל החברה, הם אולי יותר מכל רצו להשיג את כישוריו הקרביים. ענבר סיים את שירותו הצבאי כמפקד יק"ל, בדרגת תת אלוף זמן קצר לפני הצטרפותו לחברה..
  15. News: Nexus Telocation Systems Ltd. Announces CEO Departure. 13 November 2011. The Auto Channel. 15 May 2005. PR Newswire. Givatayim, Israel.
  16. News: Pointer Telocation CEO Danny Stern To Step Down, Names David Mahlab Successor. 13 November 2011. RTT News. 13 January 2011.

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