Potential Revenues of up to $6.5 Million Over Five Years
Largest Contract to Date in this Expanding Market
Rosh HaAyin, Israel, May 16, 2019. Pointer Telocation Ltd. (Nasdaq: PNTR; TASE: PNTR) – a leading provider of telematic services and technology solutions for Fleet Management, Mobile Asset Management and Internet of Vehicles, announced today that it has received a large fleet management contract in Brazil valued at up to $6.5 million over five years.
Installations are expected to be completed in the third quarter of 2019 to support services ramp in the fourth quarter of 2019 based on Pointer's telematic services and technology solutions for Fleet Management. This contract is in addition to the $4 million over 2-4 years of other new contracts in Brazil which we mentioned in our February 28th 2019 investors call.
David Mahlab, President and Chief Executive Officer of Pointer, commented: “We are excited to receive this new contract in one of our largest target markets. This is an additional strategic win for Pointer with a key customer. Following on the North American market expansion opportunity we announced at the end of 2018, with this contract and others, we expect to see continued market share gains in 2019.”
You can find the complete release here