The NASDAQ-listed firm will repurchase shares over two years as part of its capital allocation strategy.
PowerFleet Inc. (NASDAQ:AIOT) announced board approval for a $30 million share repurchase program, executable over the next two years. The move aligns with the company’s capital allocation strategy, allowing flexibility based on financial conditions and corporate priorities.
The program does not obligate PowerFleet to buy back a specific number of shares and may be adjusted or suspended at any time. The company previously partnered with Accenture to expand intelligent safety technologies in Central Europe, integrating its solutions into Accenture’s digital transformation offerings.
No immediate market reaction was disclosed following the announcement.