Pointer Telocation to Purchase 41.8% Stake in Shagrir Systems for Approximately $8.3M

Pointer Telocation Ltd. (Nasdaq: PNTR ) announced today that it has reached an agreement with certain shareholders of Shagrir Systems Ltd. ("Shagrir"), to acquire a 41.8% interest in Shagrir. Pointer currently owns 54.5% of the issued share capital of Shagrir and the acquisition will increase Pointer's shareholding in Shagrir