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WOODCLIFF LAKE, N.J., and PLANO, Texas, June 22, 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 expanded deployment of its VeriWise™ Track and Trace system with Duncan and Son Lines, Inc., to help Duncan manage its fleet of intermodal container chassis. The two companies entered into a five-year contract to add over 100 Track and Trace devices to Duncan’s chassis fleet, increasing the total VeriWise™ implementation to more than 700 assets.
The Track and Trace system provides real-time asset location via GPS, cellular communications, and web-based software. The system installs quickly and features patented power management technology for long, maintenance-free battery life. As part of its solution for Duncan, Asset Intelligence also integrates data from the Track and Trace devices into Duncan’s TMW dispatch software, to automatically generate service actions.
The president of Duncan and Son Lines, Rick Duncan III, commented, “Chassis tracking plays a key role in intermodal container management, as possession of chassis changes from container ship companies to intermodal carriers. The Track and Trace system has given us robust, reliable, cost-effective, real-time tracking of chassis location and status, which has helped us improve our fleet utilization, accelerate cargo turnaround, decrease fleet travel time, reduce fuel costs and emissions, and increase our revenue.”
“We are pleased to be part of another customer success story at Duncan and Sons,” said Norman Ellis, I.D. Systems’ COO. “Our versatile family of VeriWise™ solutions in general, and the Track and Trace system in particular, provides our customers with an effective, affordable way to manage their fleets of transportation assets. We look forward to continue growing with Duncan.”
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. 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.
About Duncan and Son Lines
For almost 70 years, Duncan and Son Lines has been a leading provider of trucking and depot services for intermodal containers, chassis and trailers, with an emphasis on cargo moving through the Ports of Los Angeles and Long Beach, California. The company operates a green fleet of over 200 trucks and can dispatch an additional 75 independently-owned vehicles for an unmatched combination of asset control and flexibility to meet client needs. Duncan’s client services include asset inventory and maintenance management, U. S. Customs clearance, freight brokerage, and certified transport of Hazmat goods. For more information, please visit www.duncanandson.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; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; emerging new products; and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. 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, 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.
For Investors/Financial Media Matt Glover/Michael Koehler Liolios Group, Inc. IDSY@liolios.com (949) 574-3860 For Trade Media Greg Smith Vice President firstname.lastname@example.org (201) 996-9000
Released June 22, 2015