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PLANO, Texas, Oct. 26, 2010 (GLOBE NEWSWIRE) -- Asset Intelligence, a leading provider of supply chain asset tracking solutions and a subsidiary of I.D. Systems, Inc. (Nasdaq:IDSY), today announced that its VeriWise™ Track & Trace system has been purchased by Garner Transportation Group, a leading truckload carrier in the Midwest. Garner will deploy the system on its entire fleet of dry vans for an initial contract term of five years.
VeriWise Track & Trace is an 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, 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.
Garner, based in Findlay, Ohio, has provided a wide range of transportation, warehousing, and logistics services throughout the Midwest U.S. for more than 50 years, and has a history of applying innovative technologies to its operations.
"Garner is committed to investing in technology that helps us better serve our customers," said Garner President Sherri Garner Brumbaugh. "The VeriWise Track & Trace system enables us to gain real-time visibility of our dry van fleet, eliminate manual yard checks, and improve our dispatch efficiency. That translates into more timely, controlled deliveries for our customers, and almost a 10% increase in fleet utilization for us."
"We chose Track & Trace for its value, ease of installation, and reliability compared to other solutions we tried," continued Brumbaugh. "It was especially important to us that the system can be mounted externally on our dry vans -- not on the roof where it would be subject to damage -- and that installation takes less than 15 minutes."
"We are very pleased to welcome Garner Transportation Group into our family of customers," said Darryl Miller, Chief Operating Officer of I.D. Systems. "VeriWise Track & Trace is an ideal solution for Garner; it's an affordable system that can be quickly and effectively installed, and it delivers greater asset visibility and control that converts instantly into operational cost benefits and customer service improvements."
About I.D. Systems and Asset Intelligence
Based in Woodcliff Lake, New Jersey, with subsidiaries in Germany and the United Kingdom, I.D. Systems is a leading provider of 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.
Asset Intelligence, a subsidiary of I.D. Systems 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.
"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: Asset Intelligence Todd Felker, EVP Marketing 972-398-7303 firstname.lastname@example.org
Released October 26, 2010