Powerfleet Inc., a Woodcliff Lake-based provider of artificial intelligence of things (AIoT) software-as-a-service (SaaS) solutions for mobile asset management, announced Feb. 9 it has been awarded a public sector contract to deliver integrated video intelligence and real-time fleet visibility services for an extensive range of South African government departments overseeing more than 100,000 vehicles. Financial terms were not disclosed
The agreement is anticipated to represent a major deployment in the company’s history and is expected to generate recurring SaaS and services revenue over a minimum five-year term following phased implementation. The company said preliminary department enrollments are highly encouraging and ahead of initial internal expectations.
The contract also expands Powerfleet’s existing partnership with MTN, supporting nationwide delivery through secure connectivity and managed network infrastructure.
“This award is highly meaningful for Powerfleet and reflects the increasing scale at which public sector organizations are adopting data-driven fleet technologies in partnership with tier one providers,” said Steve Towe, chief executive officer of Powerfleet. “Programs of this size typically anchor long-duration customer relationships and create a foundation for additional software and analytics adoption over time.”
Tumi Chamayou, chief enterprise business officer at MTN, said, “Our collaboration with Powerfleet supports the rollout of secure, enterprise-grade connectivity for large public sector operations and advances the modernization of critical transport infrastructure.”
Deployment is expected to begin mid-calendar year, with revenue commencing upon installation and scaling as subscribers are brought onto the platform.
Powerfleet is headquartered in Woodcliff Lake, with offices around the globe. The public company has a primary listing on The Nasdaq Global Market and a secondary listing on the Main Board of the Johannesburg Stock Exchange (JSE).
