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WOODCLIFF LAKE, N.J. and PLANO, Texas, May 13, 2015 (GLOBE NEWSWIRE) -- Asset Intelligence, a subsidiary of I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless solutions for the Industrial Internet of Things, has executed a contract with Logistics One, Inc., to deploy its VeriWise™ Dry Van tracking and management system on Logistics One’s fleet of 300 trailers. The term of the contract is five years.
The contract was awarded after a 60-day pilot deployment. During the pilot, the VeriWise system demonstrated multiple benefits for Logistics One, including accurate trailer load status for more efficient dispatching, reduced trailer dormancy, elimination of trailer yard checks, identification of trailers being used for storage, and more efficient fleet maintenance management.
“The VeriWise Dry Van tracking system captures powerful, actionable data on our trailers and their cargo, including real-time location and accurate loaded/unloaded status,” said Tom Moss, Logistics One’s Director of Transportation. “We will use the data to drive process changes, which we expect will significantly reduce trailer dormancy and increase the revenue capacity of our existing fleet by hundreds of trailer-days per month.”
Logistics One provides integrated warehousing, transportation and freight brokerage services throughout the northeastern United States and Canada. The company specializes in efficient, cost-effective distribution solutions for the food, beverage and paper industries.
“We are providing Logistics One with state-of-the-art trailer tracking technology—our GSM-D300 system, which combines a patented light sensor with a full trailer-length cargo sensor,” said Norman Ellis, I.D. Systems’ COO. “Based on the effectiveness of the initial deployment of the base system, Logistics One has also asked us to integrate tire inflation sensing into the system. We look forward to continue working with Logistics One to help them deliver best-in-class transportation solutions for their customers.”
Features of the VeriWise GSM-D300 VeriWise™ Dry Van Cellular tracking and management system include:
About VeriWise™ Solutions
VeriWise asset tracking systems combine sensor, wireless, and web technologies to provide real-time visibility and control of trailers and their cargo. The systems automatically identify, analyze, and respond to critical transportation issues to improve the efficiency and security of logistics operations.
VeriWise Intermodal container management system helps increase asset utilization and reduce transit cycle times. The system enables visibility and control of containers from the seaport to the rail yard and ultimately to the final destination, marking loading and unloading events, which helps increase shipments and revenue per container.
VeriWise Chassis tracking system provides visibility to chassis location and loaded/unloaded status. The system also captures gate times/locations and container mount times/locations to start and stop the billing clock, resulting in high data reliability and more accurate billing.
VeriWise Dry Van is an advanced trailer monitoring system with patented full-length cargo detection sensors and solar charging technology. The system reports reliable, uninterrupted trailer location and loaded/ unloaded status—even if the trailer is disconnected from tractor power for an extended period—designed for faster trailer turns, increased asset utilization, improved cargo security, and optimal fleet efficiency.
VeriWise Track & Trace is a low-cost, easy-to-deploy, asset tracking system that provides real-time data to improve the efficiency and security of trailer and container fleets. It is designed for quick, easy, flexible installation on a wide range of cargo-carrying assets, with patented power management technology to provide exceptionally long battery life and years of maintenance-free operation.
About I.D. Systems and Asset Intelligence
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 the Industrial Internet of Things. The company’s patented technology secures, controls, tracks, and manages 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. I.D. Systems holds more than 75 patents related to its wireless solutions and has deployed VMS systems in more than 20 countries around the world. For more information, please visit www.id-systems.com.
Asset Intelligence, an I.D. Systems subsidiary based in Plano, Texas, is a leading provider of trailer and container tracking solutions for manufacturers, retailers, shippers and freight transportation providers. It offers a full range of solutions to improve safety, security and productivity throughout global supply chains.
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, 2014. 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.
CONTACTS: For Financial Media Matt Glover/Michael Koehler Liolios Group, Inc. IDSY@liolios.com (949) 574-3860 For Trade Media Greg Smith Vice President email@example.com (201) 996-9000
Released May 13, 2015