Toyota Industrial Equipment to Partner With I.D. Systems on New Wireless Vehicle Management System (VMS)
CHICAGO, March 23, 2015 (GLOBE NEWSWIRE) -- Toyota Material Handling, U.S.A., Inc., the North American division of the world's largest lift truck manufacturer, and I.D. Systems, Inc. (Nasdaq:IDSY), a leading global provider of wireless solutions for the Industrial Internet of Things, have executed a strategic partnership agreement to develop and deploy a new wireless industrial Vehicle Management System (VMS). The new VMS will be marketed through the Toyota Industrial Equipment umbrella in North America under the "T-Matics" brand.
Details of the program were unveiled today at the material handling industry's premier trade exhibition, ProMat, which is taking place March 23-26, 2015, at Chicago's McCormick Place South.
Toyota's T-Matics Command VMS is powered by I.D. Systems' patented wireless technology and cloud-hosted in a secure data center. For wireless communications, the system will leverage either an end user's existing Wi-Fi network or a standalone VHF/cellular solution to enable implementation with minimal IT involvement. The system's on-vehicle hardware will be a custom version of I.D. Systems' 4th-generation "VAC4" hardware platform.
"T-Matics is an important part of our strategic plan moving forward," said Terry Rains, Toyota's vice president of aftermarket sales. "The T-Matics products will help our dealers and customers better manage their fleets of forklifts by increasing efficiency and utilization, optimizing maintenance schedules, and improving operator accountability."
The T-Matics products were officially launched to Toyota dealers on March 3, 2015, at Toyota's annual dealer meeting. The I.D. Systems channel sales and support team presented a comprehensive introduction to the new T-Matics Command solution, including technical and sales training. The I.D. Systems team will conduct a series of similar regional training sessions for Toyota Industrial Equipment dealers across North America, where more than 220 dealer locations market Toyota's products and services.
"We are delighted to enter into this strategic relationship with Toyota, the world's leading producer of industrial vehicles," said Kenneth Ehrman, I.D. Systems' chairman and CEO. "Toyota's unrivaled sales and distribution network, backed by the quality of Toyota manufacturing and armed with our unique, industry-leading VMS technology, can significantly expand the market for wireless VMS. This is an ideal opportunity for I.D. Systems to execute on one of the pillars of our growth strategy: to leverage key channel partners to drive new business, diversify our sources of revenue, and grow our recurring revenue stream. At the same time, our cloud-hosted solution should help reduce cost and effort for end users."
About Wireless Vehicle Management Systems
Vehicle Management Systems (VMS) help improve workplace safety and security by restricting vehicle access to trained, authorized operators, providing electronic vehicle inspection checklists, and sensing vehicle impacts. A wireless VMS also helps reduce fleet maintenance costs by automatically uploading vehicle data, reporting vehicle problems electronically, scheduling maintenance according to actual usage rather than by calendar time, and helping determine the optimal economic time to replace equipment. In addition, a wireless VMS helps improve supply chain productivity by establishing accountability for the use of equipment, ensuring equipment is in the proper place at the right time, streamlining material handling work flow, and providing unique metrics on equipment utilization.
About Toyota Material Handling U.S.A., Inc.
Proudly manufactured in the United States, Toyota Industrial Equipment offers a full line of material handling solutions including forklifts, automated guided vehicles, fleet management services and tow tractors. Toyota's commitment to quality, reliability and customer satisfaction, the hallmark of the Toyota Production System, extends throughout more than 220 locations in North America. For more information, visit www.ToyotaForklifts.com.
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. I.D. Systems holds more than 75 patents related to its wireless solutions and has deployed VMS systems in more than 20 countries around the world. For more information, please visit www.id-systems.com.
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; market forecasts; potential barriers to competition; projections of earnings, revenues, synergies, accretion or other financial information; expectations for growth of the business; 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 forward looking statements made by, or on behalf of, I.D. Systems. 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.
CONTACT: I.D. Systems Investor Relations Matt Glover or Michael Koehler Liolios Group, Inc. (949) 574-3860 IDSY@liolios.com Trade Media Greg Smith Vice President Corporate Communications (201) 996-9000 firstname.lastname@example.org Toyota Material Handling USA Christine Welch, Echo Media (714) 573-0899 email@example.com or Samantha Horton, TMHU (949) 282-7005 Samantha.firstname.lastname@example.org
Released March 23, 2015