The internet of things (IoT) and mobile asset management provider Powerfleet will acquire Movingdots GmbH, a German provider of insurance telematics and sustainable mobility solutions, the firms said today.
Terms of the deal were not disclosed, but Movingdots is a subsidiary of insurance giant Swiss Re. The firm’s technology combines insurance analytics with artificial intelligence (AI) technology to derive an individual risk assessment. Powerfleet—whose platform enables real-time monitoring of vehicles, drivers, and cargo—says the acquisition will let it tap into data-led insurance propositions and help create more sustainable and scalable solutions to meet customers’ safety and security needs.
“I look forward to welcoming Movingdots’ exceptional team and great customers to Powerfleet,” Steve Towe, CEO at Powerfleet, said in a release. “World-class insurance telematics solutions as well as ESG reporting are core to Movingdots’ business and are highly aligned and complementary to Powerfleet’s strategic focus on safety and sustainability. We look forward to the partnership as we bring these industry-leading solutions to an expanded market through Powerfleet’s customer base and global go-to-market channels.”