I.D. Systems Integrates Keytroller and Forms PowerFleet® Division Focused on Industrial Truck Management Systems
WOODCLIFF LAKE, N.J., Sept. 06, 2018 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology, has announced today that it will combine the operations of its existing Vehicle Management Systems (VMS) division with the recent successful acquisition of Keytroller, LLC. This new business unit will operate as I.D. Systems’ PowerFleet® division that focuses on the delivery of world-class Industrial Truck Management Systems (ITMS). Building on the DNA of success created by Terry Wickman, founder of Keytroller, this new division will combine the strategic account prowess from the VMS division to create a holistic offering for the market.
Chris Wolfe, I.D. Systems CEO explained: “The acquisition of Keytroller in 2017 provided I.D. Systems with a broader portfolio of products that allows us to service every customer, large and small. To ensure continued success and growth, it was logical to bring our VMS and Keytroller® teams together. This allows I.D. Systems to create a seamless sales, marketing, engineering and support group to better serve our customers, partners and employees.”
The new business unit will be led by Mark Stanton, who was promoted to VP & GM of the PowerFleet® division. Stanton has led the VMS business unit for the past four years and was an integral part of the Keytroller® acquisition and transition into I.D. Systems.
“I am very excited at the potential for these two organizations to merge together into one unified operation,” said Stanton. “It is a great opportunity for the team to continue with the strong market momentum we have created, and it will also enable us to optimally support our customers and partners as they grow their businesses together with our PowerFleet® solutions.”
The PowerFleet® division will be relocating to new facilities in the Tampa area at the end of 2018. A Center of Excellence will be created at this location to drive innovation within product engineering, development, testing, and customer support. This new center will become the engine for new, innovative, world-class products for the industrial truck market.
“Mark is the ideal candidate to lead our new PowerFleet® division. I.D. Systems is poised to deliver exciting products and services that will transform the industrial truck telematics market while creating significant value for our Customers and Partners,” stated Wolfe.
Wickman will remain actively involved with the transition within the role of International Business Development.
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 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. For more information, please visit www.id-systems.com.
I.D. Systems Contact
Ned Mavrommatis, CFO
Released September 6, 2018