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WOODCLIFF LAKE, N.J., Nov. 15, 2012 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless solutions for securing, tracking and managing high-value enterprise assets, today announced that Freymiller, Inc., a leading U.S. truckload carrier, has entered into a contract with I.D. Systems' Asset Intelligence subsidiary to deploy its VeriWise™ Reefer management system on a fleet of approximately 250 refrigerated trailers.
Utilizing GPS, onboard sensors, wireless communications and web-based software, VeriWise technology provides real-time visibility and status of transportation assets to optimize fleet efficiency, enhance security, improve customer service and reduce fleet operating costs. The VeriWise Reefer solution integrates with the world's leading manufacturers of trailer refrigeration units, Thermo King and Carrier, to enable remote management of temperature set points and automatic, real-time responses to quality issues as they arise.
"Our latest generation of VeriWise Reefer technology provides smoother integration with onboard generator-sets and a timelier stream of critical data," said Darryl Miller, I.D. Systems' COO. "We are now sampling data points every five minutes, and updating the entire system in 15 minute increments. This status visibility, combined with our remote set-point control and unique fuel usage reporting, generates tremendous cost savings. We are very pleased that Freymiller, a long-time customer, has elected to upgrade and expand its deployment of our VeriWise Reefer system."
"After doing business with Asset Intelligence for more than five years, we know that the VeriWise system will give us unique information and reliable technology, backed by first-class support," said Freymiller president David Freymiller. "The VeriWise website is very easy to use, and the Asset Intelligence team has customized fuel burn reports for us that are just about worth their weight in gold."
Freymiller (www.freymiller.com), a family-owned business with more than 40 years of success in the trucking industry, is known for its high quality standards, customer service, innovation and value.
About I.D. Systems
Based in Woodcliff Lake, New Jersey, with subsidiaries in Germany and the United Kingdom, I.D. Systems is a leading provider of solutions for securing, controlling, tracking, and managing high-value enterprise assets, including vehicles, powered equipment, trailers, containers, baggage, and cargo. The Company's patented technologies address the needs of organizations to monitor and analyze their assets to improve safety, security, efficiency, and productivity. For more information, visit www.id-systems.com.
"Safe Harbor" statement:
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; projections of earnings, revenues, synergies, accretion or other financial information; and plans, strategies and objectives of management for future operations, including integration plans in connection with acquisitions. 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, 2011. 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: For Financial Press Ned Mavrommatis, CFO firstname.lastname@example.org 201.996.9000 For Trade Press Todd Felker, EVP Marketing email@example.com 972.398.7303Source: I.D. Systems, Inc.
Released November 15, 2012