I.D. Systems Receives New Orders for European Operations of Global Automotive Manufacturer
WOODCLIFF LAKE, N.J., May 19, 2016 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology and solutions for the Industrial Internet of Things, has received new orders totaling approximately $440,000 from a leading global auto manufacturer. The company will install I.D. Systems’ PowerFleet® Vehicle Management System (VMS) on newly purchased industrial trucks in three manufacturing facilities in Europe. The orders are comprised of VAC4 units – PowerFleet’s next generation on-vehicle device.
“We are delighted that one of our largest customers continues to gain value from our VMS,” said I.D. Systems Chairman and CEO Kenneth Ehrman. “As with many of our customers, safety remains a key driver of VMS adoption for this auto manufacturer, as they seek to ensure the safety of their employees on the plant floor. We are happy that the safety features of PowerFleet are proving beneficial for their operation.”
“Additionally, we are continuing to gain traction with sales of our VAC4 device, as evidenced by these orders. The quality and reliability of VAC4, as well as technological advancements over the previous generation hardware, are resulting in improved VMS operations for our customers. We are encouraged with the progress we continue to make transitioning to our next generation hardware.”
About I.D. Systems, Inc.
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems is a leading global provider of technologies for securing, controlling, tracking, and managing high-value enterprise assets, including industrial vehicles, rental cars, trailers, containers, and cargo. The company’s solutions 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.
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 May 19, 2016