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Day: 27 March 2023

Powerfleet to Acquire Movingdots

Posted on by David Priestman

Powerfleet, Inc. (Nasdaq: PWFL), 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, has signed a definitive agreement to acquire Movingdots, a leading 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 (AI) 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.

“I look forward to welcoming Movingdots’ exceptional team and great customers to Powerfleet,” said Steve Towe, Chief Executive Officer at Powerfleet. “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.”

Hendrik Todte, Managing Director at Movingdots, added: “We pride ourselves on the accuracy and reliability of our data and solutions. Achieving safer and more sustainable mobility requires engineering excellence and I am proud of the dedicated team we have built in Europe. We look forward to joining forces with Powerfleet to embrace opportunities in the corporate and commercial fleet space and to deliver innovation in mobility through cutting edge technology.”

Compelling benefits from the acquisition that are expected to support Powerfleet’s organic growth include:

• Insurance-approved solutions: Movingdots is currently owned by Swiss Re, one of the world’s leading providers of reinsurance, insurance, and other forms of insurance-based risk transfer. The insurance risk insights from Swiss Re have contributed to the creation of Movingdots’ end-to-end telematics app solution, Coloride. This adds credibility to the suite Powerfleet will offer its customers and partners.
• Enhanced Powerfleet Unity platform: Powerfleet launched its new fleet intelligence platform, Unity, at the end of 2022. Unity unites people, assets, and IoT device data together on a single platform to transform the way its customers do business. Unity is made up of six data-powered solutions, including safety and sustainability. Movingdots’ focus on delivering innovative automotive and mobility safety solutions and ESG reporting will enhance Powerfleet’s SaaS enterprise applications.
• Increased global reach and total addressable market: Movingdots’ footprint and customer base will strengthen Powerfleet’s global reach and ability to penetrate EMEA markets with wider international leadership and expanded solution offerings.
• Investment in talent: Movingdots has built a hub of excellence in Germany and beyond. Movingdots employees will strengthen Powerfleet’s current tenured and talented team, all striving to deliver on the promise of People Powered IoT.

“We are excited that we have found Powerfleet, a strong buyer for Movingdots, who has the scale and footprint to further grow the business,” said Andrea Keller, Head Automotive and Mobility, Reinsurance Solutions, at Swiss Re. “We are looking forward to continuing with Powerfleet and Movingdots in partnership.”

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.

 

Powerfleet to Acquire Movingdots

Posted on by David Priestman

Powerfleet, Inc. (Nasdaq: PWFL), 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, has signed a definitive agreement to acquire Movingdots, a leading 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 (AI) 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.

“I look forward to welcoming Movingdots’ exceptional team and great customers to Powerfleet,” said Steve Towe, Chief Executive Officer at Powerfleet. “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.”

Hendrik Todte, Managing Director at Movingdots, added: “We pride ourselves on the accuracy and reliability of our data and solutions. Achieving safer and more sustainable mobility requires engineering excellence and I am proud of the dedicated team we have built in Europe. We look forward to joining forces with Powerfleet to embrace opportunities in the corporate and commercial fleet space and to deliver innovation in mobility through cutting edge technology.”

Compelling benefits from the acquisition that are expected to support Powerfleet’s organic growth include:

• Insurance-approved solutions: Movingdots is currently owned by Swiss Re, one of the world’s leading providers of reinsurance, insurance, and other forms of insurance-based risk transfer. The insurance risk insights from Swiss Re have contributed to the creation of Movingdots’ end-to-end telematics app solution, Coloride. This adds credibility to the suite Powerfleet will offer its customers and partners.
• Enhanced Powerfleet Unity platform: Powerfleet launched its new fleet intelligence platform, Unity, at the end of 2022. Unity unites people, assets, and IoT device data together on a single platform to transform the way its customers do business. Unity is made up of six data-powered solutions, including safety and sustainability. Movingdots’ focus on delivering innovative automotive and mobility safety solutions and ESG reporting will enhance Powerfleet’s SaaS enterprise applications.
• Increased global reach and total addressable market: Movingdots’ footprint and customer base will strengthen Powerfleet’s global reach and ability to penetrate EMEA markets with wider international leadership and expanded solution offerings.
• Investment in talent: Movingdots has built a hub of excellence in Germany and beyond. Movingdots employees will strengthen Powerfleet’s current tenured and talented team, all striving to deliver on the promise of People Powered IoT.

“We are excited that we have found Powerfleet, a strong buyer for Movingdots, who has the scale and footprint to further grow the business,” said Andrea Keller, Head Automotive and Mobility, Reinsurance Solutions, at Swiss Re. “We are looking forward to continuing with Powerfleet and Movingdots in partnership.”

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.

 

Financial Results Confirm Logistics Strategy

Posted on by David Priestman

Munich-based intermodal and shortsea logistics provider Robert Kukla closes its 2022 financial year with a substantial 22 percent increase in turnover. “In particular, the expansion of the network via associated companies with the development of our own logistics products contributed to this above average success,” sums up Kukla CEO Knut Sander. For 2023, he again expects organic growth of around 20 per cent. With its eleven affiliated companies and the headquarters in Munich, Robert Kukla achieved a turnover of EUR 248.7 million last year with 180,000 transported units. This represents an improvement of 22 percent over the previous year.

Investments ensure growth

According to Sander, the investments in the development of the European locations are paying off: “Due to the increasing number of participations, we are working more efficiently, especially with regard to fixed costs. Overall, our growing European network has created a high degree of self-dynamics, which is expressed in a double-digit plus on the income side. The affiliated companies, for example, contributed the lion’s share of EUR 30 million to the total increase in turnover of EUR 45.46 million. The headquarters in Munich also developed exceptionally well with an increase in turnover of 14 per cent.”

Logistics Strategy

In particular, the locally managed locations were very successful in the free development of independent logistics services. As an example, Sander mentions the development of full load transports with the integration of permanent carriers at the Düsseldorf location, which is developing rapidly. The Kukla company in Milan (Italy) introduced a train system with slot bookings for intermodal transports in 2022 and the Hamburg location now handles the entire FOB processing for containers (organisation of the pre-carriage to loading on board).

The company also registered a strong increase in the area of UK shipments. “In the aftermath of the post-Brexit, there was an immense shift in trailer transports to containers, from which we benefited,” explains Sander. The volume transported has increased by about 50 per cent to 24,000 containers annually. In order to be more independent of external service providers, Robert Kukla has meanwhile opened his own customs agency in Folkestone.

Potential in nearshoring and existing customer business

For the current year, Sander again expects growth of about 20 per cent. The existing customer business is the main contributor to this. “The larger network brings new opportunities for our customers, especially in the intermodal sector, synergies arise,” Sander concretises, adding, “with shippers, whom we strongly supported during the time of acute supply chain problems, we experience higher appreciation and retention than before the Corona pandemic.” The Kukla CEO also sees potential in the emerging trend towards nearshoring: “Procurement markets are moving closer to Kukla’s home market. We are represented with intermodal logistics solutions in the growth regions of Eastern Europe and North Africa, also involving Shortsea. Our transport volume in these countries is currently increasing noticeably.”

Robert Kukla GmbH Internationale Spedition, headquartered in Munich, specialises in multimodal and intermodal transports, tank transports and truck transports worldwide and has extensive experience in warehouse logistics. The Munich-based logistics service provider has locations in Hamburg, Berlin, Düsseldorf, Milan, Breda, Stockholm, Bilbao, Calais, Lisbon, London and Thessaloniki. Kukla has been in operation since 1941, works worldwide with a dense network of high-performance cooperation partners and employs around 280 people at all its locations. Of the approximately 180,000 units transported annually, about 60 per cent are accounted for by short-sea traffic and 40 per cent by shipments by rail and truck

Financial Results Confirm Logistics Strategy

Posted on by David Priestman

Munich-based intermodal and shortsea logistics provider Robert Kukla closes its 2022 financial year with a substantial 22 percent increase in turnover. “In particular, the expansion of the network via associated companies with the development of our own logistics products contributed to this above average success,” sums up Kukla CEO Knut Sander. For 2023, he again expects organic growth of around 20 per cent. With its eleven affiliated companies and the headquarters in Munich, Robert Kukla achieved a turnover of EUR 248.7 million last year with 180,000 transported units. This represents an improvement of 22 percent over the previous year.

Investments ensure growth

According to Sander, the investments in the development of the European locations are paying off: “Due to the increasing number of participations, we are working more efficiently, especially with regard to fixed costs. Overall, our growing European network has created a high degree of self-dynamics, which is expressed in a double-digit plus on the income side. The affiliated companies, for example, contributed the lion’s share of EUR 30 million to the total increase in turnover of EUR 45.46 million. The headquarters in Munich also developed exceptionally well with an increase in turnover of 14 per cent.”

Logistics Strategy

In particular, the locally managed locations were very successful in the free development of independent logistics services. As an example, Sander mentions the development of full load transports with the integration of permanent carriers at the Düsseldorf location, which is developing rapidly. The Kukla company in Milan (Italy) introduced a train system with slot bookings for intermodal transports in 2022 and the Hamburg location now handles the entire FOB processing for containers (organisation of the pre-carriage to loading on board).

The company also registered a strong increase in the area of UK shipments. “In the aftermath of the post-Brexit, there was an immense shift in trailer transports to containers, from which we benefited,” explains Sander. The volume transported has increased by about 50 per cent to 24,000 containers annually. In order to be more independent of external service providers, Robert Kukla has meanwhile opened his own customs agency in Folkestone.

Potential in nearshoring and existing customer business

For the current year, Sander again expects growth of about 20 per cent. The existing customer business is the main contributor to this. “The larger network brings new opportunities for our customers, especially in the intermodal sector, synergies arise,” Sander concretises, adding, “with shippers, whom we strongly supported during the time of acute supply chain problems, we experience higher appreciation and retention than before the Corona pandemic.” The Kukla CEO also sees potential in the emerging trend towards nearshoring: “Procurement markets are moving closer to Kukla’s home market. We are represented with intermodal logistics solutions in the growth regions of Eastern Europe and North Africa, also involving Shortsea. Our transport volume in these countries is currently increasing noticeably.”

Robert Kukla GmbH Internationale Spedition, headquartered in Munich, specialises in multimodal and intermodal transports, tank transports and truck transports worldwide and has extensive experience in warehouse logistics. The Munich-based logistics service provider has locations in Hamburg, Berlin, Düsseldorf, Milan, Breda, Stockholm, Bilbao, Calais, Lisbon, London and Thessaloniki. Kukla has been in operation since 1941, works worldwide with a dense network of high-performance cooperation partners and employs around 280 people at all its locations. Of the approximately 180,000 units transported annually, about 60 per cent are accounted for by short-sea traffic and 40 per cent by shipments by rail and truck

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