WOODCLIFF LAKE, N.J., Feb. 21, 2013 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless solutions for securing, tracking and managing high-value enterprise assets, has entered into a master supplier agreement with and received a series of purchase orders from one of the world's largest tire manufacturers. The purchase orders, cumulatively valued at approximately $830,000, call for I.D. Systems to deploy its PowerFleet® wireless Vehicle Management System (VMS) on fleets of industrial trucks at three of the tire maker's U.S. production plants. The tire manufacturer operates more than 150 plants worldwide.
"I.D. Systems has deployed its wireless asset management solutions on thousands of industrial vehicles in automotive manufacturing environments, and we are delighted to add this tire manufacturer to our family of world class automotive customers," said Jeffrey Jagid, I.D. Systems' chairman and CEO. "The selection of our PowerFleet system reflects a commitment to implement best practices for workplace safety and, at the same time, optimize material handling productivity. We are especially gratified that we displaced a competitor to win this business."
About Vehicle Management SystemsVehicle Management Systems (VMS) help improve safety and security by restricting industrial vehicle access to trained, authorized operators, providing electronic safety inspection checklists, and sensing vehicle impacts. A wireless VMS helps reduce fleet maintenance costs by automatically uploading vehicle data, reporting vehicle problems electronically, scheduling maintenance according to actual vehicle usage rather than by calendar or manual data entry, and helping determine the optimal economic time to replace equipment. In addition, a wireless VMS helps improve supply chain productivity by establishing accountability for the use of equipment, ensuring equipment is in the proper place at the right time, streamlining material handling work flow, and providing unique metrics on equipment utilization. About I.D. Systems Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless solutions for securing, controlling, tracking, and managing high-value enterprise assets, including 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 . The I.D. Systems, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=17090 "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 acquisitions. 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, 2011. 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.
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