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Pointer Telocation

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Pointer Telocation Ltd.
Company typePublic
Nasdaq: PNTR
PredecessorNexus Telocation Systems Ltd.
FoundedJuly 17, 1991 (1991-07-17)
DefunctOctober 3, 2019 (2019-10-03)
SuccessorPowerFleet
Headquarters
Rosh HaAyin
,
Israel
Key people
David Mahlab (CEO & Pres.)
RevenueIncrease US$ 73.86 million (2010)
Increase US$ 6.64 million (2010)
Increase US$ 1.13 million (2010)
ParentDBSI Investments Ltd.
SubsidiariesShagrir Systems Ltd.
Websitewww.pointer.com
Footnotes / references
[1]

Pointer Telocation was a publicly traded company, headquartered in Israel, that developed automatic vehicle location solutions[buzzword] 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[buzzword] 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

Company Year Price Details
Safecom
2000
  
Acquired by Eden Telecom[17]
Shagrir 2004–2005 NIS 200 million
[18]
Cellocator Ltd.
2007
 NIS 62 million
[19]
Car2Go
2009
 NIS 6 million
Acquired by Shagrir[20]
TCM Transportation Ltd.
2011
 NIS 2.5 million
Acquired by Shagrir[21]

See also

References

  1. ^ "PNTR Income Statement". Yahoo! Finance. 2011. Retrieved 13 November 2011.
  2. ^ "Pointer Telocation Closes Acquisition by I.D. Systems" (Press release). PR Newswire. October 3, 2019.
  3. ^ Miller, Zack (27 July 2008). "Green Road raised almost $20m — where's Pointer Telocation (PNTR)?". Boston Globe. Israel Opportunity Investor. Retrieved 13 November 2011.
  4. ^ "Motorola, Clal, Nexus, Poalim Investments to Set Up Car Tracking Company". Globes. 25 March 1999. Retrieved 13 November 2011.
  5. ^ de la Fuente, Susan (13 April 2009). "Keeping track of your vehicle with Israel's Pointer". Israel21c. Retrieved 13 November 2011. 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. ^ "Nexus Telocation Systems Ltd. Announces Closing of Agreement for Purchase of All Outstanding Shares of Pointer (Eden Telecom Group) Ltd". IVC Research Center. PR Newswire. 27 June 2004. Archived from the original on 10 August 2007. Retrieved 13 November 2011.
  7. ^ עדן טלקום משנה את שמה לפוינטר ומשקיעה 100 אלף דולר במיתוג דרך משרד הפרסום הוס סמואל [Eden Telecom changes name to Pointer and invests $100,000 in branding via Huss Samuel advertising agency]. TheMarker (in Hebrew). 25 July 2002. Retrieved 13 November 2011. חברת עדן טלקום הודיעה על שינוי שמה לפוינטר (מבית עדן טלקום) במסגרת מיתוג מחדש.
  8. ^ חביב, שירי (20 February 2006). אולי שינוי השם יצליח לשנות את הקארמה: נקסוס הופכת לפוינטר טלוקיישן [Perhaps a change of name will effect a change in karma: Nexus changes to Pointer Telocation]. Globes (in Hebrew). Retrieved 13 November 2011. אולי זה מה שהוביל את נקסוס לנסות לפתוח דף חדש, ולהודיע אתמול על שינוי שם החברה ל'פוינטר טלוקיישן'.
  9. ^ "Pointer Telocation Ltd: Information on the Company". EDGAR Online. 30 March 2011. p. 29. Retrieved 13 November 2011.
  10. ^ "Pointer Telocation to Sign a $1.4 Million Agreement". May 26, 2006.
  11. ^ "Review: mobile spy". Retrieved 20 June 2017.
  12. ^ Zalik, Nir (5 August 2008). יורוקום של שאול אלוביץ' הופכת לבעלת עניין בפוינטר - קנתה כ-429 אלף מניות ומחזיקה ב-9.03% מהחברה [Shaul Elovitch's Eurocom becomes interested shareholder in Pointer – acquired some 429,000 shares and holds 9.03% of the company]. TheMarker (in Hebrew). Retrieved 13 November 2011. 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. ^ "Pointer Telocation Ltd: List of Interested Parties". Tel Aviv Stock Exchange. 2011. Retrieved 13 November 2011.
  14. ^ Hadas, Guy (18 February 2001). הכלב של פוינטר לומד טריקים חדשים [Pointer's dog learns new tricks]. TheMarker (in Hebrew). Retrieved 13 November 2011. 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. ^ "Nexus Telocation Systems Ltd. Announces CEO Departure". The Auto Channel. Givatayim, Israel. PR Newswire. 15 May 2005. Retrieved 13 November 2011.
  16. ^ "Pointer Telocation CEO Danny Stern To Step Down, Names David Mahlab Successor". RTT News. 13 January 2011. Retrieved 13 November 2011.
  17. ^ "Eden Telecom moves into operating profit zone". Globes. 30 April 2002. Retrieved 13 November 2011.
  18. ^ Efrati, Ido (4 January 2005). הושלמה עסקת מכירת שגריר לפוינטר [Sale of Shagrir to Pointer completed]. Ynet (in Hebrew). Retrieved 13 November 2011. הושלמה רכישת חברת שגריר על ידי חברת פוינטר: בהסכם שנחתם אמש (ב') בין שגריר שירותי גרירה - חברת האם של "שגריר" (33.3%) לבין פוינטר מקבוצת נקסוס, נמכרה שגריר ב-200 מיליון שקל.
  19. ^ "Pointer Telocation Completes the Purchase of Cellocator Ltd". The Auto Channel. Givatayim, Israel. PR Newswire. 18 September 2007. Retrieved 13 November 2011.
  20. ^ "Pointer Telocation acquires Israeli carshare co stake". Globes. 17 May 2009. Retrieved 13 November 2011.
  21. ^ "Pointer, Through its Subsidiary Shagrir, Establishes a Limited Partnership for the Acquisition of the Activity of TMC Transportation Ltd". PR Newswire. Rosh HaAyin, Israel. 7 November 2011. Retrieved 13 November 2011.
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