• ABI Research released commercial video telematics report recognizing Powerfleet for its innovation

WOODCLIFF LAKE, N.J., Dec. 5, 2023 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today announced it was named a top innovator in ABI Research's Commercial Video Telematics Competitive Ranking. This influential report is designed to provide critical insights, research, and strategic advice for vendor decision-making in the video telematics and mobile asset IoT SaaS industry. ABI is a global technology advisory firm with research focused on transformative technologies that are dramatically reshaping industries, economies, and workforces.

The study ranked Powerfleet as a top innovator based on its comprehensive solutions, user experience, key use cases, cameras and sensors, driving monitoring systems, and reporting and analytics capabilities. Powerfleet was specifically recognized for its advanced video solutions, data-driven safety and security enterprise application, and its device-agnostic fleet intelligence platform Unity, which offers fleet managers a strategic dashboard, instant real-time reporting, driver alerts, and sophisticated analytics such as incident heat mapping and driver scoring.

"It is reaffirming to receive this acknowledgment from ABI Research after their thoughtful analysis of the commercial video technology landscape," said Jim Zeitunian, Powerfleet's Chief Technology Officer. "We are excited to continue pushing the envelope, setting new standards, and delivering even more groundbreaking AI-led and data-driven solutions in the future."

Powerfleet helps companies around the world improve their safety culture by providing mission-critical safety solutions and data intelligence to improve business operations. Their software capabilities encompass pre-collision warning, incident prevention, driver identification, incident review, driver coaching and risk mitigation, cargo monitoring, and more. The top innovator recognition follows the announcement of a business combination with MiX Telematics that will further accelerate their Artificial Intelligence of Things (AIoT) innovations and customer expansion opportunities for over 1.7 million subscribers worldwide.

This ABI study included an impartial evaluation and ranking of commercial video telematics vendors, aiming to assess and compare their offerings. To ensure a fair comparison, only vendors providing video-based features like driver behavior monitoring and cargo monitoring were considered. Additionally, selected vendors must directly interface with end-users or do so through partners to assist in understanding and optimizing their operations.

For more information on how Powerfleet is unifying business operations to save lives, time, and money, please visit: https://www.powerfleet.com/.

ABOUT ABI RESEARCH

ABI Research provides strategic guidance for visionaries needing market foresight on the most compelling transformative technologies, which reshape workforces, identify holes in a market, create new business models and drive new revenue streams. ABI's own research visionaries take stances early on those technologies, publishing groundbreaking studies often years ahead of other technology advisory firms. ABI analysts deliver their conclusions and recommendations in easily and quickly absorbed formats to ensure proper context. Our analysts strategically guide visionaries to take action now and inspire their business to realize a bigger picture. For more information about subscribing to ABI's Research Services as well as Industrial and Custom Solutions, visionaries can contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.

ABOUT POWERFLEET

Powerfleet (Nasdaq: PWFL; TASE: PWFL) is a global leader of internet of things (IoT) software-as-a-service (SaaS) solutions that optimize the performance of mobile assets and resources to unify business operations. Our data science insights and advanced modular software solutions help drive digital transformation through our customers' and partners' ecosystems to help save lives, time, and money. We help connect companies, enabling customers and their customers to realize more effective strategies and results. Powerfleet's tenured and talented team is at the heart of our approach to partnership and tangible success. The company is headquartered in Woodcliff Lake, New Jersey, with our Pointer Innovation Center (PIC) in Israel and field offices around the globe. For more information, please visit www.powerfleet.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements include statements with respect to Powerfleet's beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond Powerfleet's control, and which may cause its actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. For example, forward-looking statements include statements regarding the proposed transaction with MiX Telematics; prospects for additional customers; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion, or other financial information; emerging new products; and plans, strategies, and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. The risks and uncertainties referred to above include, but are not limited to, future economic and business conditions, the ability to recognize the anticipated benefits of the proposed transaction with MiX Telematics; the loss of key customers or reduction in the purchase of products by any such customers, the failure of the market for Powerfleet's products to continue to develop, the inability to protect Powerfleet's intellectual property, the inability to manage growth, the effects of competition from a variety of local, regional, national and other providers of wireless solutions, risks related to the proposed transaction with MiX Telematics and other risks detailed from time to time in Powerfleet's filings with the Securities and Exchange Commission, including Powerfleet's most recent annual report on Form 10-K. These risks could cause actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Powerfleet. Unless otherwise required by applicable law, Powerfleet assumes no obligation to update the information contained in this press release, and expressly disclaims any obligation to do so, whether a result of new information, future events, or otherwise.

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