I.D. Systems, Inc. Establishes Performance Services Group
HACKENSACK, N.J., May 4, 2007 (PRIME NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless asset tracking and management solutions, today announced that it has established a Performance Services Group with the hiring of Roger Tenney as director of performance services. Mr. Tenney comes to I.D. Systems from Ford Motor Company, where he was responsible for managing Ford's corporate fleet of material handling equipment and implementing I.D. Systems' Wireless Asset Net(r) industrial vehicle management solutions across Ford's North American operations. Mr. Tenney's career at Ford spanned 16 years. He holds a Bachelor of Science degree in electrical engineering from Lawrence Technological University.
The primary goal of I.D. Systems' Performance Services Group is to assist customers in defining the significant safety and productivity benefits available through application of Wireless Asset Net(r) technology and to deliver a service offering that ensures customers achieve and sustain those benefits.
"Our system provides actionable intelligence. Customers obtain benefits by monitoring asset information in near real time and taking actions to optimize those benefits," said Peter Fausel, I.D. Systems' executive vice president of sales, marketing and customer service. "The more we can help our customers understand and apply the rich and unique streams of data being generated by our Wireless Asset Net(r) system, the faster those customers can transition from initial implementations to enterprise-scale roll-outs. In addition, providing these types of value-added services will help I.D. Systems diversify its sources of revenue and expand the depth and quality of our customer relationships."
"I am very excited to join I.D. Systems," said Mr. Tenney. "We realized a significant return on investment at Ford using I.D. Systems' wireless technology to control and manage virtually every aspect of industrial truck operations, and I am looking forward to utilizing my field experience to help other I.D. Systems customers drive the same kind of economic benefits."
Mr. Fausel added, "We are fortunate to add Roger to our team -- he has a deep understanding of how to apply our technology to practical workplace problems and rapidly maximize benefit, which will be of tremendous value to our customers, as well as to our sales and marketing organization. We look forward to working together to build this Performance Services Group under Roger's leadership."
About the Wireless Asset Net(r)
The Wireless Asset Net improves productivity in manufacturing and distribution environments by establishing accountability for use of equipment, ensuring equipment is in the proper place at the right time, streamlining work flow through automated messaging, and providing management with unique metrics on -- and controls over -- equipment utilization. The system also improves workplace safety and security by restricting vehicle access to trained, authorized operators and providing electronic vehicle inspection checklists. In addition, the system reduces maintenance expenses by automatically uploading vehicle data, reporting problems identified on checklists in real time, scheduling maintenance according to actual vehicle usage rather than on a calendar basis, establishing accountability for vehicle damage, and helping management determine the optimal economic time to replace equipment.
About I.D. Systems
Based in Hackensack, NJ, I.D. Systems, Inc. is a leading provider of wireless solutions for securing, tracking and managing high-value enterprise assets. These assets include industrial vehicles, such as forklifts and airport ground support equipment, and the people who operate them. The company's patented Wireless Asset Net system, which utilizes radio frequency identification, or RFID, technology, addresses the needs of organizations to control track, monitor and analyze their assets. For more information about I.D. Systems, visit www.id-systems.com.
I.D. Systems, Inc. and Wireless Asset Net are registered trademarks of I.D. Systems, Inc.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:
This press release contains forward looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and that are subject to risk and uncertainties, including, but not limited to, future economic and business conditions, the loss of any of the Company's key customers or reduction in the purchase of its products by any such customers, the failure of the market for the Company's products to continue to develop, the inability to protect the Company's intellectual property, the inability to manage the Company's growth, the effects of competition from a wide variety of local, regional, national and other providers of wireless solutions and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-K for the year ended December 31, 2005. These risks could cause actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, the Company. The Company assumes no obligation to update the information contained in this press release.
CONTACT: I.D. Systems, Inc. For Financial Press Ned Mavrommatis, Chief Financial Officer 201-996-9000 Fax: 201-996-9144 firstname.lastname@example.org For Trade Press Greg Smith, Vice President Marketing 201-996-9000 Fax: 201-996-9144 email@example.com
Released May 4, 2007