PowerFleet to acquire Movingdots, terms not disclosed

Powerfleet has signed a definitive agreement to acquire Movingdots, a provider of insurance telematics and sustainable mobility solutions based in Bremen, Germany, and a subsidiary of one of the world’s leading re-insurers, Swiss Re. Movingdots, in partnership with Swiss Re’s Automotive and Mobility unit, has spent nearly a decade designing and perfecting data science algorithms with primary insurers to provide risk-based drive style analytics for fleets and personal auto risk. Backed with actuarial insights, Movingdots enables data-driven insurance propositions for insurers, car manufacturers, and mobility platform players worldwide. By focusing on customers’ safety and security needs, and by providing transparent and comprehensive monitoring, Movingdots combines insurance analytics with artificial intelligence technology to derive an individual risk assessment. Movingdots has been looking for the right strategic growth partner to deliver these precisely architected insurance solutions to the global market in a sustainable, profitable, and scalable way. The acquisition is expected to close in the first quarter of 2023. Following the completion of the acquisition, all Movingdots customers will continue to receive exceptional service from the Movingdots team.