I.D. Systems Wins $1.4 Million Contract From New Intermodal Container Customer
WOODCLIFF LAKE, N.J., March 10, 2016 (GLOBE NEWSWIRE) -- The Asset Intelligence subsidiary of I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology and solutions for the Industrial Internet of Things, announces the acquisition of a new customer deploying its VERIWISE® Intermodal Container tracking solution. The customer, one of North America’s largest providers of intermodal transportation services, selected the VERIWISE solution following extensive evaluation and competitive analysis, citing the VERIWISE IQ™ Analytics solution as well as the system’s fully integrated and rugged hardware design as the primary factors in the selection. The initial order is valued at $1.4 million with a 5 year service term, representing the beginning of a long-term relationship.
Matt Harris, Asset Intelligence Sr. Vice President of Sales, stated: “This is a big win for Asset Intelligence and I.D. Systems, and continues to validate the value that our intermodal container solution delivers to our customers. Building on our other recent wins in this market, we couldn’t be happier that this very large new customer selected our solution after their evaluation and due diligence of other competitive products.
“We believe VERIWISE is the best offering in the intermodal container market, and our growing customer list of industry leaders is further validation of our technology leadership,” continued Harris.
The new customer chose the VERIWISE solution based on the system’s superior hardware design which includes low-profile and secure mounting inside the corrugation of containers, protecting the device from damage. In addition, both load and light sensors are fully integrated and do not require any cabling inside the container. The customer also preferred the VERIWISE IQ™ Analytics platform which drives additional value by providing comprehensive fleet visibility of key performance indicators.
About VERIWISE® Intermodal Container Solutions
The VERIWISE Intermodal Container tracking solution helps carriers maximize container fleet utilization and minimize idle time by providing visibility of loading/unloading events. Using ultrasonic cargo sensing and patented light sensing technologies, the system generates real-time data on load status throughout the shipment cycle, and is the only integrated solution that provides load and door status without the need for wired sensors. The system can reduce shipment cycle times by an average of 72 hours per container per month, and increase shipment volume and revenue by 10%, without increasing fleet size.
VERIWISE IQ™ Analytics is a robust intelligence platform that provides comprehensive visibility of transportation asset fleets including intermodal containers, chassis, and dry vans. With the insight enabled by VERIWISE IQ, businesses can identify opportunities to optimize fleet operations and align their fleet with their business objectives. By visualizing and understanding critical data, carriers can transform their business by improving the speed and quality of decisions, and shed light on the outcomes of those decisions.
About I.D. Systems, Inc. and Asset Intelligence
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 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. For more information, visit www.id-systems.com.
Asset Intelligence, an I.D. Systems subsidiary based in Plano, Texas, is a leading provider of fleet management solutions that improve utilization, productivity, and profitability of remote transportation assets including trailers, intermodal containers and chassis for carriers, shippers, manufacturers, and retailers.
CONTACTS: I.D. Systems Ned Mavrommatis Chief Financial Officer Phone: 201-996-9000 firstname.lastname@example.org Investor Relations Liolios Group Matt Glover or Michael Koehler Phone: 949-574-3860 IDSY@liolios.com
Released March 10, 2016