I.D. Systems Receives Purchase Order From Leading Global Auto Maker for
Wireless Industrial Vehicle Management System
WOODCLIFF LAKE, N.J., July 1, 2014 (GLOBE NEWSWIRE) -- I.D. Systems, Inc.
(Nasdaq:IDSY), a leading provider of wireless M2M asset management solutions,
has received a purchase order from one of the world's largest automotive
manufacturers—a new customer—to deploy its PowerFleet® wireless Vehicle
Management System (VMS) on a fleet of more than 250 industrial trucks, as part
of a trial evaluation being conducted by the customer.
"This is an important trial program for us—an enterprise rollout with this
customer could potentially involve thousands of vehicles," said Kenneth
Ehrman, I.D. Systems' chairman and CEO. "Our PowerFleet VMS has had a long
history of success in the automotive industry, where it has helped improve
safety, reduce costs and improve efficiency in material handling operations.
We are very excited to have the opportunity to demonstrate the value of our
VMS technology to another global automotive manufacturer."
About Wireless Vehicle Management Systems
A wireless vehicle management system (VMS) helps improve workplace safety and
security by restricting vehicle access to trained, authorized operators,
providing electronic vehicle inspection checklists, and managing vehicle
impacts. A wireless VMS helps reduce industrial fleet maintenance costs by
automatically uploading vehicle data, reporting vehicle problems
electronically, scheduling maintenance according to actual vehicle usage
rather than by calendar or manual data entry, and helping determine the
optimal economic time to replace equipment. In addition, a wireless VMS helps
improve material handling productivity by establishing accountability for the
use of equipment, ensuring equipment is in the proper place at the right time,
and providing unique fleet utilization metrics.
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas,
Germany, and the United Kingdom, I.D. Systems, Inc. is a leading global
provider of wireless M2M solutions for securing, controlling, tracking, and
managing high-value enterprise assets, including industrial vehicles, rental
cars, 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.
PowerFleet® is a registered trademark of I.D. Systems. For more information,
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward looking statements within the meaning of
federal securities laws. Forward-looking statements include statements with
respect to I.D. Systems' beliefs, plans, goals, objectives, expectations,
anticipations, assumptions, estimates, intentions, and future performance, and
involve known and unknown risks, uncertainties and other factors, which may be
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forward-looking statements include: statements regarding prospects for
additional customers; market forecasts; potential barriers to competition;
projections of earnings, revenues, synergies, accretion or other financial
information; and plans, strategies and objectives of management for future
operations. The risks and uncertainties referred to above include, but are not
limited to, future economic and business conditions, the loss of key customers
or reduction in the purchase of products by any such customers, the failure of
the market for I.D. Systems' products to continue to develop, the possibility
that I.D. Systems may not be able to integrate 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, 2013. These risks
could cause actual results to differ materially from those expressed in any
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Systems assumes no obligation to update the information contained in this
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result of new information, future events or otherwise.
CONTACT: For Financial Press
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