I.D. Systems Awarded Patent for Automated Wireless Vehicle Rental System
WOODCLIFF LAKE, N.J., Feb. 6, 2013 (GLOBE NEWSWIRE) -- I.D. Systems, Inc.
(Nasdaq:IDSY), a leading provider of wireless solutions for securing, tracking
and managing high-value enterprise assets, has been awarded United States
patent number 8,370,268 for a wireless, fully automated, remotely controlled
vehicle rental system.
The patented system enables a renter to reserve a vehicle via the Internet or
a Smartphone, confirm a specific vehicle's availability in real time by means
of a wireless device inside the vehicle, automatically unlock the vehicle's
doors with a remote authorization signal, and return the vehicle without the
aid of any other person.
This is I.D. Systems' second patent award pertaining specifically to wireless
rental car management. The company's first patent application for an automated
vehicle rental system was filed in 1999, and the company currently has
multiple related patent applications pending.
I.D. Systems has deployed its rental vehicle management technology for Avis
Budget Group on approximately 30,000 vehicles in North America, as reported
in November, 2012. As part of the contract between the companies, announced in
August, 2011, Avis Budget also acquired an approximately 9% equity stake in
I.D. Systems expects that the newly awarded patent will help it further
penetrate the rental car market and serve as a barrier to competition.
"We are very excited to be awarded this patent," said Jeffrey Jagid, I.D.
Systems' chairman and CEO. "We envision consumers taking more control of their
own car rental experience, and rental companies enjoying significant cost
savings and revenue enhancements through wireless automation of their
operations. This is starting to happen already, with virtual, remote rentals
constituting the fastest-growing segment of the rental car industry. We
believe our patented technology will be a cornerstone in revolutionizing this
industry, just as electronic ticketing and check-in transformed the airline
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas,
Germany, and the United Kingdom, I.D. Systems is a leading global provider of
wireless solutions for securing, controlling, tracking, and managing
high-value enterprise assets, including rental cars, industrial vehicles,
trailers, containers, and cargo.The Company's patented technologies address
the needs of organizations to monitor and analyze their assets to increase
efficiency and productivity, reduce costs, and improve profitability.For more
information, please visit www.id-systems.com.
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successfully the business, operations and employees of acquired businesses,
the inability to protect I.D. Systems' intellectual property, the inability to
manage growth, the effects of competition from a variety of local, regional,
national and other providers of wireless solutions, and other risks detailed
from time to time in I.D. Systems' filings with the Securities and Exchange
Commission, including its annual report on Form 10-K for the year ended
December 31, 2011. These risks could cause actual results to differ materially
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