WOODCLIFF LAKE, N.J., March 19, 2014 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless M2M asset management solutions, has received a contract from the U.S. Postal Service (USPS) to begin to upgrade and expand the company's wireless Vehicle Management Systems (VMS) across the USPS mail distribution network. Since awarding I.D. Systems a national contract in 2005, the USPS has deployed the company's VMS technology on more than 5,000 industrial vehicles in over 100 facilities. The new contract has an initial period of performance to September 30, 2014, with a potential value of up to $4 million.
This is an "indefinite delivery/indefinite quantity" (IDIQ) contract, in which exact quantities, times and places of product deliveries are not known at the time of contract award. It is also a fixed price contract, with agreed upon pricing in effect for the full contract term.
"We are gratified and proud that, after almost a decade as our customer, the USPS continues to do business with I.D. Systems," said Kenneth Ehrman, president and interim CEO of I.D. Systems. "We think the Postal Service's commitment to begin refreshing and expanding its enterprise-wide deployment of our wireless industrial vehicle management technology is a testament to our longstanding leadership in the VMS business, and a reflection of the significant value of our industry-leading solutions for material handling operations."About Vehicle Management Systems Vehicle Management Systems (VMS) help improve workplace safety and security by restricting vehicle access to trained, authorized operators and by providing electronic vehicle inspection checklists. A wireless VMS also helps reduce fleet maintenance costs by automatically uploading vehicle data, reporting vehicle problems electronically, giving management the option of scheduling maintenance according to actual usage rather than on a calendar basis, and helping management determine the optimal economic time to replace equipment. In addition, a wireless VMS helps improve supply chain productivity by ensuring equipment is in the proper place at the right time, streamlining material handling work flow, and providing management with unique reports on vehicle utilization.
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