Solution Satisfaction Demonstrated by Additional Unit Purchases from New and Existing Customers
WOODCLIFF LAKE, N.J., Dec. 18, 2018 (GLOBE NEWSWIRE) — I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise asset management and Industrial Internet of Things technology, announces it has recently reached agreements to provide extended Logistics Visibility Solutions to three fleets – two of which are existing customers recommitting to I.D. Systems. The I.D. Systems’ Logistics Visibility Solutions are designed to connect, providing users with asset management tools that deliver powerful tracking, monitoring and reporting capabilities. These customer commitments follow the recent announcement of I.D. Systems Connected Car solutions group receiving the largest single contract in the company’s history from Avis Budget Group for a broad deployment of its Wireless Fleet Management System.
“We are excited about the momentum we are building in our various business units as we move into 2019,” said Chris Wolfe, I.D. Systems CEO. “These new commitments validate that our solutions offer unique value to our customers and their day-to-day operations. Our new innovative solutions and expanded product portfolio have brought us significant new opportunities here in the states as well as in Europe.”
The three I.D. Systems’ Logistics Visibility Solutions customers that together represent over 1,000 new units in long term commitment include:
Compass Lease
Compass Lease, LLC is one of the largest trailer leasing and rental companies in the United States. They specialize in long-term leasing and short-term rentals – from dry vans to reefers. Their focus is premium trailers, state-of-the-art technology, and exceptional customer service.
International Express Trucking (IXT)
Located in Kansas City, KS, International Express Trucking, Inc. (IXT) and IXT, LLC are uniquely qualified to meet your intermodal drayage needs across the Midwest region and meet your shipping needs across the United States and Canada.
FAB Express
An industry leader, FAB’s primary focus is the ongoing development of dedicated fleet services for the corrugated box industry with short haul and regional operations in Illinois, Indiana, Michigan, Ohio, Wisconsin.
“We are focused on transforming the way companies do business, with solutions that are designed for flexibility, scalability and efficiency,” said Norm Thomas, General Manager of I.D. Systems’ Logistics Visibility Solutions Group. “These deals – a result of our ongoing focus on providing value and visibility to our customers – further solidify our partnerships with established users, while continuing to expand our relationships with new customers and leading position in the transportation and asset management industry.”
To learn more about I.D. Systems, visit www.id-systems.com/. For more information on the company’s Logistics Visibility Solutions, visit www.logistics-visibility.com/.
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Florida, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M and IoT solutions for securing, controlling, tracking, and managing high-value enterprise assets such as 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.
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 beyond I.D. Systems’ control, and which may cause its actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. For example, forward-looking statements include statements regarding: prospects for additional customers; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; emerging new products; and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. 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, 2017. These risks could cause actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, I.D. Systems. Unless otherwise required by applicable law, I.D. Systems assumes no obligation to update the information contained in this press release, and expressly disclaims any obligation to do so, whether as a result of new information, future events or otherwise.
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Source: I.D. Systems