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HACKENSACK, N.J., April 26, 2010 (GLOBE NEWSWIRE) -- The Raymond Corporation, a leading global manufacturer of material handling solutions, and I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless asset management technology, have entered into a marketing agreement under which Raymond will now offer I.D. Systems' asset management solutions to support Raymond's iWarehouse(R) fleet optimization system. In conjunction with the agreement, Raymond has certified I.D. Systems' interactive, on-vehicle computers to extract real-time data directly from Raymond(R) lift trucks through Raymond's exclusive iPort(R) interface, which is a single connection to the lift truck vehicle manager.
"I.D. Systems has demonstrated that it can deploy and support our iWarehouse solution very effectively, and we are very pleased that I.D. Systems is one of our certified iWarehouse solution providers," said Chuck Pascarelli, president of sales and marketing for Raymond. "This technology helps us to provide the industry's most flexible, robust fleet optimization technology for industrial trucks."
The exclusive open-architecture design of Raymond's iPort enables facilities to choose the qualified third-party technology that works best for their operations to facilitate the gathering and reporting of data. Through the iPort, data can be captured for more than 200 customizable data points and synthesized into easy-to-read graphical reports through the iWarehouse Gateway(TM), a data analysis and reporting Web portal that can help facility managers encourage proper operation, reduce operating costs and increase productivity.
"We are delighted and gratified to strengthen our relationship with Raymond through this marketing agreement and technology certification," said Peter Fausel, I.D. Systems' executive vice president of sales. "The proven effectiveness of our patented PowerFleet vehicle management technology and our flexible wireless communication options make I.D. Systems an ideal technology provider to help bring Raymond customers significant return on their investment through the iWarehouse system."
About I.D. Systems
Based in Hackensack, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems is a leading provider of wireless solutions for securing, controlling, tracking, and managing high-value enterprise assets, including vehicles, powered equipment, trailers, containers, baggage, and cargo. The Company's patented technologies address the needs of organizations to monitor and analyze their assets to improve safety, security, efficiency, and productivity. For more information, visit www.id-systems.com.
About The Raymond Corporation
Raymond is a global provider of material handling solutions that improve space utilization and productivity, with lower cost of operation and greater operator acceptance. Raymond offers the iWarehouse system, an enterprise fleet optimization solution for warehouse and distribution center managers to collect and analyze real-time lift truck data to maximize fleet productivity and reduce costs. High-performance, reliable, ergonomically designed Raymond lift trucks range from a full line of manual and electric pallet trucks and walkie stackers to counterbalanced trucks, Reach-Fork(R) trucks, orderpickers and dual-purpose (pallet handling/case picking) Swing-Reach(R) trucks. Above. And beyond.(R), iPort(R) iWarehouse(R), iWarehouse Gateway(TM), Raymond(R), Reach-Fork(R), and Swing-Reach(R) are U.S. trademarks of The Raymond Corporation. To get more information or locate a Raymond Sales & Service Center, visit www.raymondcorp.com or call (800) 235-7200.
"Safe Harbor" statement:
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, synergies, accretion or other financial information; and plans, strategies and objectives of management for future operations, including integration plans in connection with the acquisition. 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, 2009. 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. 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: I.D. Systems: For Trade Media Greg Smith, VP email@example.com For Financial Media Ned Mavrommatis, CFO firstname.lastname@example.org (201) 996-9000 Raymond: Marketing Communications Elizabeth Buza (607) 656-2734 email@example.com
Released April 26, 2010