123 Tice Blvd. Suite 101
Woodcliff Lake, NJ 07677
WOODCLIFF LAKE, N.J., Aug. 19, 2019 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise asset management and Industrial Internet of Things (IoT) technology, has deployed upgraded in-cab technology for the entire fleet of Samuel Coraluzzo & Torrissi Transport, a recognized industry leader in hauling oil across the U.S. east coast.
Integrating their latest PowerFleet technology offering, the LV9000 asset-tracking solution, into the Samuel Coraluzzo & Torrissi Transport operating system has delivered a 360-degree, “real time” view of their business that improves employee productivity and helps deepened customer satisfaction by reducing problems and enables taking proactive measures before problems occur.
The I.D. Systems PowerFleet ELD compliant system is a robust, technically-advanced in-cab installation that is specifically designed to manage logistics and transportation fleets. I.D. Systems has been working with Samuel Coraluzzo & Torrissi Transport since 2007 to accelerate the transformation of its logistics information architecture in support of the company’s business objectives: increased visibility, reduced material handling costs and improved overall operational agility.
“We were excited that we didn’t need to upgrade our entire operating system in order to uncover an unprecedented level of ‘always-on’ transparency,” explained Samuel Coraluzzo & Torrissi Transport President, Robert Penza. “I.D. Systems worked with us to integrate their top-of-the-line PowerFleet LV9000 into our existing platform in a way that expedites the mandated reporting we share with our customers.”
Norm Thomas, General Manager of PowerFleet for Logistics, commented: “There was really no need to replace Samuel Coraluzzo & Torrissi Transport’s existing technology architecture. Whenever we can partner with our customers and bring them a proven and tested custom-integrated solution, it’s truly a win for all involved. Helping our customers achieve increased accountability, operational efficiencies and save money.”
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Florida, Texas, Germany, and the United Kingdom, I.D. Systems provides its suite of PowerFleet wireless IoT solutions around the globe 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. I.D. Systems will be rebranded as PowerFleet (Nasdaq: PWFL) following the close of its acquisition of Pointer Telocation. For more information, please visit www.powerfleet.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, 2018. 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.
I.D. Systems Company Contact:
SVP Strategy, Business Development, and Marketing
I.D. Systems Media Contact:
North 6th Agency
Released August 19, 2019