SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 6-K
REPORT OF FOREIGN
PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of July, 2007
POINTER TELOCATION LTD.
1 Korazin Street
Givatayim, 53583
Israel
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-
For Immediate Release
Pointer Telocation
Announces Entering Into a Definitive
Agreement for Purchase of Cellocator Ltd.
Givatayim, Israel July 16, 2007, Pointer Telocation Ltd. (Nasdaq Capital Market: PNTR, TASE: PNTR), a leading provider of services to insurance companies and car owners, including road-side assistance, towing and stolen vehicle retrieval services in Israel, Argentina and Mexico, announced today, further to its announcement of March 16, 2007, that is has entered into a definitive agreement with Cellocator Ltd. and its affiliates for the purchase of its assets and activities for approximately US$ 18.5 million which will be paid by: (i) the issuance of 160,000 Ordinary Shares of the Company; (ii) a convertible debenture, convertible into 160,000 Ordinary Shares of the Company, at principal amount of $1,921,668; (iii) a cash consideration of approximately NIS 62,000,000. The closing of the transaction is expected to take place within the next few weeks subject to the completion of certain closing conditions as agreed upon in the definitive agreement.
About Celloator
Cellocator Ltd www.cellocator.net
provides sophisticated, cost-effective and
reliable OEM products for the vehicle security and fleet management service industry, as
well as solutions for wireless M2M (machine to machine).
| Cellocator is a B2B company that supplies and integrates its technology with solutions for its partners/clients in different business sectors – |
| — | fleet management operators and service providers |
| — | security service providers |
| — | Integrators and turn-key solutions providers |
| With Cellocator equipment, its partners/clients can offer their customers the following competitive advantages – |
| — | Improved customer service |
| — | Optimized resources usage (money, manpower, time) |
| — | Increased profitability |
| — | Improved cargo and vehicle security |
| — | Decreased outlay communications, fuel, labor, maintenance, insurance |
Currently around 150,000 vehicles in over 25 countries are outfitted with Cellocator products. Its growing customer base includes vehicle security and fleet service providers based in the UK, Greece, Mexico, Russia, Croatia, Germany, Czech Republic, Latvia, Turkey, Hong Kong, Singapore, India, Panama, Costa Rica, Brazil, Norway, Venezuela, Hungary and Israel.
About Pointer Telocation: Pointer Telocation Ltd www.pointer.com provides range of services to insurance companies and automobile owners, including road-side assistance, vehicle towing, stolen vehicle retrieval, fleet management and other value added services. Pointer Telocation provides services, for the most part, in Israel, through its subsidiary Shagrir and in Argentina and Mexico through its local subsidiaries. Independent operators provide similar services in Russia and Venezuela utilizing Pointer’s technology and operational know-how.
Safe Harbor Statement
This press release contains forward-looking statements with respect to the business, financial condition and results of operations of Pointer and its affiliates. These forward-looking statements are based on the current expectations of the management of Pointer, only, and are subject to risk and uncertainties relating to changes in technology and market requirements, the company’s concentration on one industry in limited territories, decline in demand for the company’s products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. Pointer undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting the company, reference is made to the company’s reports filed from time to time with the Securities and Exchange Commission.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| POINTER TELOCATION LTD. By: /s/ Yossi Ben Shalom —————————————— Yossi Ben Shalom Chairman of the Board of Directors |
Date: July 16, 2007