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WOODCLIFF LAKE, N.J., Oct. 14, 2014 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless M2M asset management solutions, has received a series of purchase orders from Toyota Forklifts of Atlanta to roll out I.D. Systems' PowerFleet® wireless vehicle management system (VMS) on a fleet of lift trucks for a leading U.S. specialty retailer. After implementation, the retailer will have deployed PowerFleet in 18 retail and distribution sites, with another 17 sites slated for deployment over the next 12 months. Financial terms were not disclosed.
Toyota Forklifts of Atlanta distributes several leading brands of industrial vehicles, including Toyota Industrial Equipment, the world's largest lift truck manufacturer.
The version of PowerFleet being deployed leverages the retailer's existing Wi-Fi network to communicate wirelessly with the lift trucks at each site, while the system's software and data are cloud-hosted in a secure I.D. Systems data center. Data reports are delivered automatically via email. Users can also access the system software as needed via Internet browser. As a result, the system requires virtually no support from the retailer's IT organization.
"These orders are significant on several levels," said Kenneth Ehrman, I.D. Systems' chairman and CEO. "First, this is another example of a business rolling out VMS across its enterprise, based on compelling quantitative and qualitative value. Second, these orders reflect the growth in importance of I.D. Systems' strategic partnerships with forklift dealers. Finally, our cloud-hosted solution represents a rapidly growing trend of deploying VMS as a service, with lower costs and fewer administrative duties for the customer."
About Wireless Vehicle Management Systems
Vehicle Management Systems (VMS) help improve workplace safety and security by restricting vehicle access to trained, authorized operators, providing electronic vehicle inspection checklists, and sensing vehicle impacts. A wireless VMS also helps reduce fleet maintenance costs by automatically uploading vehicle data, reporting vehicle problems electronically, scheduling maintenance according to actual usage rather than by calendar time, and helping determine the optimal economic time to replace equipment. In addition, a wireless VMS helps improve supply chain productivity by establishing accountability for the use of equipment, ensuring equipment is in the proper place at the right time, streamlining material handling work flow, and providing unique metrics on equipment utilization.
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems, Inc. is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, 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. PowerFleet® is a registered trademark of I.D. Systems. For more information, visit www.id-systems.com.
Cautionary Note Regarding Forward-Looking Statements
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, potential contract values, synergies, accretion or other financial information; initiatives for new products and processes, and plans, strategies, objectives, and initiatives of management for future operations. 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 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, 2013. 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. Unless otherwise required by applicable law, 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 Matt Glover/Michael Koehler Liolios Group, Inc. IDSY@liolios.com (949) 574-3860 For Trade Press Greg Smith Vice President firstname.lastname@example.org (201) 996-9000
Released October 14, 2014