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Slide #61. Pointer Telocation — Remainder of Shagrir Systems Ltd
Pointer Telocation (PNTR)
Remainder of Shagrir Systems Ltd
Pointer Telocation Ltd. (Nasdaq CM: PNTR) - a leading developer, manufacturer and operator of Mobile Resource Management (MRM), announced today that it has reached an agreement with certain shareholders of Shagrir Systems Ltd. ("Shagrir"), to acquire a 41.8% interest in Shagrir. Pointer currently owns 54.5% of the issued share capital of Shagrir and the acquisition will increase Pointer's shareholding in Shagrir to 96.3%. The remaining 3.7% of the shares of Shagrir are held by present and former managers of Shagrir and the Company intends to purchase such additional shares under similar terms.
Pointer Telocation is a provider of mobile resource management (MRM) products and services for the automotive, insurance industries and other mobile tracking markets. Co.'s products segment Cellocator, is focused on the design, development and production of MRM products including: devices for asset tracking; fleet management and security products. MRM. Communication systems contained within Co.'s products and tracking hardware utilize either radio frequency or GPRS/GSM technologies. Co.'s services segment MRM, offers a range of services including inter alia: asset tracking; fleet management services; and stolen vehicle retrieval services.
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Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
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