I.D. Systems’ New Industrial Truck Telematics Solution Wins Prestigious Industry Award

Representing the first product launched under the PowerFleet division of I.D. Systems, PowerFleet Essence Wins Material Handling Product News Readers’ Choice Products of the Year Awards

WOODCLIFF LAKE, N.J., Jan. 15, 2019 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology, was chosen as a winner of Material Handling Product News (MHPN) fourth-annual Readers’ Choice Products of the Year Awards for PowerFleet Essence; the company’s new class of industrial truck telematics platforms aimed at small to medium-sized fleets.

The prestigious award honors the achievements of companies for advancements in materials handling systems and equipment within manufacturing, distribution centers and warehouses. Companies were invited to submit their products, and nearly 3,000 MHPN readers decided the winners in 12 categories, and PowerFleet Essence won the Automatic Data Capture category. PowerFleet Essence consists of the OC53 operator console mounted on the industrial truck and the PowerFleet Control Center app downloaded to an iPad or iPhone. The system communicates using a Bluetooth direct connection, so it does not require complicated IT support or Wi-Fi networking. This same platform can also secure and track construction heavy equipment.

“This award is a testament to the quality products we are developing for the industrial truck market segment,” stated Mark Stanton, Vice President and General Manager of I.D. Systems’ PowerFleet division. “We have already seen a surge in early adoption and inquiries, and this new offering increases our target market from 2 million to over 10 million forklifts world-wide.”

PowerFleet Essence is a new class of industrial truck telematics platforms aimed at small to medium-sized fleets used in manufacturing, distribution, logistics and retail centers. The system ensures site managers know that only certified operators are using their equipment, when they have completed required safety inspections, and how their equipment is operated to reap the savings of safer industrial truck operations. The system is particularly suited for installations previously hindered by cost, complexity, IT networking and integration requirements.

Physical installation of the OC53 hardware is simplified. Communication with the PowerFleet Control Center application works out-of-the-box. Data is collected automatically while in range of any app-enabled Bluetooth device and then displayed and managed in an intuitive Control Center app.  PowerFleet Essence can also be configured to support different languages. Initial support includes English, Spanish, French and German.

For more information, visit: https://www.powerfleetoc53.com.

About I.D. Systems

Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Florida, Texas, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets such as industrial vehicles, rental cars, 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. For more information, please 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; 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, 2016. 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 a result of new information, future events, or otherwise.

Source: I.D. Systems, Inc.

I.D. Systems Contact
Ned Mavrommatis, CFO
ned@id-systems.com
(201) 996-9000

Investor Contact
Liolios for I.D. Systems
Matt Glover
IDSY@liolios.com
(949) 574-3860

Media Contact
Jacobson Strategy for I.D Systems
Molly Jacobson
molly@jacobsonstrategy.com
(850) 980-2793

Released January 15, 2019