Powerfleet Launches Vista, an Advanced Vehicle Video Solution with AI Capabilities

New Video Technology Enables Safer, More Efficient Commercial Vehicle Management

WOODCLIFF LAKE, N.J., June 22, 2021 — Powerfleet, Inc. (Nasdaq: AIOT) a global leader and provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking and managing high-value enterprise assets, today announced the launch of Vista, a best-in-class in-vehicle video solution that leverages artificial intelligence (AI) to analyze and proactively manage risky driving situations across fleets. With Vista, Powerfleet is expanding its image technology portfolio, which includes the patent-pending LV-710 freight camera for trailers and containers and the CP4 System designed for the industrial truck market.

The global demand for dashboard and 360-degree camera technology is growing due to a considerable rise in the number of vehicle related accidents, thefts, and “nuclear verdicts” (jury awards of more than $10 million) in the trucking industry. The National Highway Safety Administration (NTSA) reports that an estimated 38,680 deaths in motor vehicle traffic crashes in 2020. Up to 96% of all auto accidents are a result of human error, which further emphasizes the need for fleets to invest in technology to maintain the safety of drivers, pedestrians, and assets.

Recorded video events provide additional contextual insights around hard braking and turning events, vehicle accidents as well as vehicle and content theft. Easy to install and operate, Vista delivers real-time, high-definition video from both road and driver facing cameras to bolster safety and training programs, help exonerate drivers, prevent accidents, and lower insurance costs.

“We have seen strong demand from customers in our vertical and geographic markets for additional video solutions that provide visual proof to improve safety and operations,” said Elizabeth Elkins, Chief Product Officer at Powerfleet. “As a leading IoT solutions provider, it made sense to add Vista to our portfolio of technology solutions focused on keeping drivers safe, protecting assets, and reducing insurance premiums. Whether you have a fleet of over-the-road trucks, cars or service and delivery vans, Vista can play a valuable part of a world-class safety program. The Vista video platform supports safe driving with the ability to auto-detect unsafe driving conditions while delivering real-time driver audio feedback and warnings to help correct risky driving behaviors as they occur.”

Vista is a flexible video solution that can operate stand-alone or as an integrated part of any fleet management system. It leverages the latest processor technology for edge-processing and future proofing and can be installed with minimal configuration. Vista wireless connectivity supports 4G LTE and has built-in Wi-Fi that supports auxiliary cameras for 360° views. Operations managers can stream live video, download video events, and access all cameras through a secure and comprehensive portal.

Other key features include:

• Live streaming: check on the conditions of the road, cab and your assets at any time
• Real time drive alerting (in-cab feature): cameras will notify driver of safety events in real time
• Video history review: all videos on the SD card can be accessed remotely or locally at anytime
• Parking mode: cameras will record any events that occur following sudden jolts when the vehicle is turned off
• Event-based notifications: including harsh acceleration or braking, distracted driving traits, harsh cornering, speeding and more

To learn more, visit https://www.powerfleet.com/vista/quick-start/.

I.D. Systems Expands Relationship with Avis Budget Group with a New 75,000 Unit Order for Wireless Vehicle Technology

 

  • I.D. Systems Receives a New Order for 75,000 Units from Avis Budget Group for Broad Deployment of its Wireless Fleet Management System
  • New Order Will Bring Total Units Deployed with Avis Budget Group to 125,000 Since 2018
  • New Contract Includes Additional Feature and Capability Development that will Enable Avis Budget Group to Extend its Industry-Leading App Functionality to a Larger Portion of its Fleet

WOODCLIFF LAKE, N.J., Dec. 06, 2018 (GLOBE NEWSWIRE) — I.D. Systems, Inc. (NASDAQ: IDSY) and Avis Budget Group, Inc.(NASDAQ: CAR) have executed a new purchase agreement to deploy 75,000 additional units of I.D. Systems’ proprietary wireless rental fleet management systems in Avis Budget’s vehicle fleet.

I.D. Systems’ wireless in-vehicle management system permits two-way data communications between a vehicle and various car rental operating systems. Combined with Avis Budget’s other existing technologies, I.D. Systems’ rental fleet management systems enables Avis Budget to rent and check-in vehicles virtually, all on a mobile device. The system provides Avis Budget with unique insights into the mileage, fuel level, and condition of a vehicle the minute it is returned to an Avis location. These capabilities significantly streamline and automate the vehicle data collection and billing process.

The agreement provides Avis Budget a variation of the technology to test in Europe and enables the device to provide full Zipcar functionality. I.D. Systems expects to begin delivering the hardware in the second quarter of 2019.

“We appreciate Avis Budget Group choosing I.D. Systems as a preferred provider for this follow-on order of our unique connected car solution, equipping the highest number of connected vehicles in Avis Budget Group’s fleet,” said Chris Wolfe, Chief Executive Officer of I.D. Systems. “This continues our many years of working hand-in-hand with Avis Budget Group to develop, build and implement innovative technology that enables Avis Budget Group to achieve their connected fleet and business transformational goals.”

Gerard Insall, Chief Information Officer of Avis Budget Group, commented: “The Avis App combined with a totally connected fleet is the future of mobility.  With the success of our initial 50,000-unit deployment, we are pleased to expand our relationship with I.D. Systems to utilize I.D. Systems connected car solution on over one-third of our North American fleet. Our ‘connected cars’ allow us to significantly improve our customer’s rental experience by giving our customers more control and choice of their vehicle using their mobile device. We also improve their vehicle return experience by automating the check-in process. As a mobility services provider, connected car technology not only streamlines the rental experience for our customers but allows us to drive operational efficiencies.”

About I.D. Systems

Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Florida, Germany, and the United Kingdom, I.D. Systemsis a leading global provider of wireless M2M solutions 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. For more information, visit idsy2019.wpengine.com.

About Avis Budget Group

Avis Budget Group, Inc. is a leading global provider of vehicle rental services, both through its Avis and Budget brands, which have more than 11,000 rental locations in approximately 180 countries around the world, and through its Zipcar brand, which is the world’s leading car sharing network, with more than one million members. Avis Budget Group operates most of its car rental offices in North America, Europe and Australasia directly, and operates primarily through licensees in other parts of the world.  Avis Budget Group has approximately 31,000 employees and is headquartered in Parsippany, N.J. More information is available at www.avisbudgetgroup.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. Systemsmay 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, 2017. 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 as a result of new information, future events or otherwise.

I.D. Systems Ships Over 10,000 Connected Car Devices to Avis Budget Group

WOODCLIFF LAKE, N.J., April 03, 2018 (GLOBE NEWSWIRE) — I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology, has shipped more than 10,000 units of its Unified Telematics Platform (UTP) to Avis Budget Group for installation on its rental fleet vehicles in the U.S. Avis has certified the UTP in 18 make/model combinations, and is already using the devices in over 50 locations across the country.

“We are very pleased that Avis has now certified the use of our UTP system on numerous auto make/model combinations in their fleet,” said Lisa Hardin, vice president of Connected Vehicle Solutions for I.D. Systems.  “Each combination requires mapping of unique vehicle signals, performing detailed fuel tank characterizations and then end-to-end platform testing and security validation with the total Avis solution.”

“Shipping our first 10,000 units is a significant milestone for I.D. Systems, as it proves our ability to rapidly certify new vehicles and scale production.” said Chris Wolfe, chief executive officer, I.D. Systems.  “We expect to ship the remaining 40,000 units ordered predominately in second quarter with the balance in the third, depending upon Avis make/model certification requests and vehicle delivery schedules.”

Avis Budget Group has transformed the car rental experience with the Avis Car Rental mobile app that interacts with connected cars. The app allows renters to manage their entire rental experience from a smartphone. Drivers can choose the exact car they want, change or upgrade a vehicle while at or near the lot with a simple swipe, view their rental agreement, lock and unlock the car and more.

For more information visit idsy2019.wpengine.com.

About I.D. Systems

Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Florida, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M solutions 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. For more information, please visit idsy2019.wpengine.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, 2016. 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.

Avis Budget Group Drives Forward Connected Car Innovation with I.D. Systems Technology

WOODCLIFF LAKE, N.J., Feb. 12, 2018 (GLOBE NEWSWIRE) — I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology, announced today that Avis Budget Group has begun installing its Unified Telematics Platform (UTP) on vehicles in the Avis Car Rental fleet in the United States. Avis Budget Group will install a total of 50,000 UTP units, which effectively convert these vehicles into connected cars.

The UTP device from I.D. Systems can be easily and rapidly installed in the Avis fleet by simply plugging it into the On-Board Diagnostics (OBD) port standard in all modern vehicles. I.D. Systems detects the electronic signature of the vehicle, configures the device to properly monitor and interact with the vehicle, and then provides operational data and pass-through controls back to enable the Avis mobile app.

“The integration of I.D. Systems’ UTP will accelerate our ability to meet our goal of a fully connected fleet by 2020,” said Arthur Orduña, executive vice president and chief innovation officer, Avis Budget Group. “Connected cars offer us unparalleled potential to dramatically improve the customer experience while also streamlining operations and reducing costs, which is why we’re taking aggressive steps to fully connect our fleet as quickly as possible.”

“I.D. Systems has been working with Avis Budget Group to provide new, innovative solutions to meet their needs both today and into the future,” said Chris Wolfe, CEO of I.D. Systems. “We are pleased to deploy all 50,000 UTP devices under this multi-year agreement.”

Avis Budget Group has transformed the car rental experience with the Avis Car Rental mobile app that interacts with connected cars. The app allows renters to manage their entire rental experience from their smartphone. They can choose the exact car they want, change or upgrade their vehicle while at or near the lot with a simple swipe, view their rental agreement, lock and unlock the car and more.

For an overview of the Avis Mobile App click: https://youtu.be/0BsPKTXHQsg.

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 M2M solutions 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. For more information, please visit idsy2019.wpengine.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, 2016. 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 Signs Exclusive Agreement With Avis Budget Group To Deploy Wireless Vehicle Rental Technology

WOODCLIFF LAKE, N.J. – March 20, 2017 –  I.D. Systems, Inc. (NASDAQ:IDSY) and Avis Budget Group, Inc. (NASDAQ:CAR) have executed a purchase agreement for deployment of I.D. Systems’ proprietary wireless rental fleet management systems in Avis Budget’s vehicle rental fleet.
I.D. Systems’ wireless in-vehicle management system permits two-way data communications between a vehicle and various car rental operating systems. Combined with Avis Budget’s other existing technologies, I.D. Systems’ rental fleet management systems enables Avis Budget to rent and check-in vehicles virtually, all on a mobile device. The system provides Avis unique insights into the mileage, fuel level, and condition of a vehicle the minute it is returned to an Avis location. These capabilities significantly streamline and automate the vehicle data collection and billing process.
The first phase of the new purchase agreement will incorporate I.D. Systems’ technology into 50,000 Avis Budget vehicles. As part of the agreement, I.D. Systems received an upfront payment, which it will allocate toward the development of additional system enhancements as well as ramping production with the goal of delivering more than 2,500 units per week starting in the fourth quarter of 2017. The exclusive agreement also provides Avis Budget an option to extend system deployment across its global fleet of vehicles.
“This new agreement builds on our long-standing and successful technology collaboration with Avis Budget,” said Chris Wolfe, Chief Executive Officer of I.D. Systems. “We believe our patented, next-generation solution will truly revolutionize the car rental industry, and with a global leader like Avis as our partner, we now have a unique opportunity to realize this vision. We look forward to working more closely with the Avis team to support the deployment of their first 50,000 in-vehicle wireless devices to be installed in Avis Budget rental vehicles starting in the fourth quarter.”
Gerard Insall, Chief Information Officer of Avis Budget Group, commented: “We believe Avis Now represents the future of car rental, and we’re excited to continue and expand on our partnership with I.D. Systems. Our ‘connected cars’ allow us to vastly improve our customer’s rental experience by giving our customers more virtual control and choice of their vehicle using their mobile phone. We also improve their vehicle return experience by automating the check-in process. As a mobility services provider, connected car technology not only streamlines the rental experience for our customers but allows us to drive operational efficiencies.
The agreement provides Avis Budget with a limited term of exclusivity for the use of I.D. Systems’ technology in the car and truck rental industry, with multiple options to mutually extend the exclusivity period in six-month increments under certain conditions.
About I.D. Systems
Headquartered in Woodcliff Lake, N.J., with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems, Inc. is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, 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 idsy2019.wpengine.com.
About Avis Budget Group
Avis Budget Group, Inc. is a leading global provider of vehicle rental services, both through its Avis and Budget brands, which have more than 11,000 rental locations in approximately 180 countries around the world, and through its Zipcar brand, which is the world’s leading car sharing network, with more than one million members. Avis Budget Group operates most of its car rental offices in North America, Europe and Australia directly, and operates primarily through licensees in other parts of the world.  Avis Budget Group has approximately 30,000 employees and is headquartered in Parsippany, N.J. More information is available at www.avisbudgetgroup.com.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws.  Forward-looking statements include statements with respect to beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions and future performance.  All statements other than statements of historical fact are statements that could be forward-looking statements.  For example, Avis Budget Group’s option to implement a global system deployment is exercisable solely within its discretion, and no assurance can be given that Avis Budget Group actually will exercise this option. Forward-looking statements also 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.  Forward-looking statements are subject to known and unknown risks and uncertainties that may be beyond the control of I.D. Systems and Avis Budget Group and could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to:

  • the loss of I.D. Systems’ key customers or reduction in the purchase of its 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 of I.D. Systems to protect its intellectual property, the inability of I.D. Systems to manage growth, the effects of competition from a variety of local, regional, national and other providers of wireless solutions, and the 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, 2015; and
  • Except to the extent required by applicable federal securities laws, neither I.D Systems, Inc. nor Avis Budget Group, Inc. undertakes any obligation to release publicly any revisions to any forward-looking statements, whether as a result of new information, future events or otherwise, or to report any events or the occurrence of any unanticipated events.
I.D. Systems Contacts:                  
Ned Mavrommatis, CFO                                                              
ned@id-systems.com                                                   
201-996-9000                                                                    
Investor Relations
Liolios Group, Inc.                                                           
Matt Glover                                                                      
IDSY@liolios.com                                                                                            
949-574-3860

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I.D. Systems, Inc.

I.D. SYSTEMS AMENDS AGREEMENT WITH AVIS BUDGET GROUP TO CONVERT LEASE FINANCING RECEIVABLE TO $5.4 MILLION IN CASH

Woodcliff Lake, NJ, December 15, 2014—I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of wireless M2M asset management solutions, has amended its Master Software License, Information Technology Services and Equipment Purchase Agreement with Avis Budget Group (NASDAQ: CAR) to convert Avis Budget’s obligation to make monthly hardware lease payments to I.D. Systems into a one-time payment of approximately $5.4 million in cash.
“This agreement substantially improves our working capital position, continues our relationship with Avis, one of our long-time customers, and helps us focus on being a technology solution provider rather than a leasing company,” said Kenneth Ehrman, I.D. Systems’ chairman and CEO.
The monthly hardware lease payments were associated with I.D. Systems’ deployment of approximately 30,000 rental car management systems for Avis Budget in North America. Under accounting rules, I.D. Systems recognized the full amount of hardware revenue when the hardware was shipped in 2012, and has carried the monthly lease payments on its balance sheet as a financing receivable. I.D. Systems expects to continue providing maintenance services for the hardware, as stipulated in the agreement, for the duration of the agreement, which runs through September, 2017.
“We believe this transaction makes good sense for both I.D. Systems and Avis Budget Group,” said Ned Mavrommatis, I.D. Systems’ CFO. “For us, it turns a long-term asset on our balance sheet into cash. For Avis Budget, the benefit is a cost savings on the interest they would have otherwise paid as part of their hardware lease payments.”
The transaction will reduce the financing receivables and increase the cash on I.D. Systems’ balance sheet by approximately $5.8 million and $5.4 million, respectively. As a result, the company expects to record a one-time charge of approximately $400,000 in the fourth quarter of 2014, reflecting a discount rate for Avis Budget’s early payment of its remaining lease commitment.
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems, Inc. is a leading global provider of wireless M2M 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 about I.D. Systems, please visit idsy2019.wpengine.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; market forecasts; projections of earnings, revenues, potential contract values, estimated product shipment dates, synergies, accretion or other financial information; initiatives for new products and processes, and plans, strategies, objectives, and initiatives of management for future operations. 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 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, 2013. 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 as a result of new information, future events or otherwise.

Investor Relations Contact:
Liolios Group, Inc.
Matt Glover or Michael Koehler
Phone: 949-574-3860

I.D. SYSTEMS AWARDED PATENT FOR AUTOMATED WIRELESS VEHICLE RENTAL SYSTEM

Woodcliff Lake, NJ, February 6, 2013—I.D. Systems, Inc. (Nasdaq: IDSY), a leading provider of wireless solutions for securing, tracking and managing high-value enterprise assets, has been awarded United States patent number 8,370,268 for a wireless, fully automated, remotely controlled vehicle rental system.
The patented system enables a renter to reserve a vehicle via the Internet or a Smartphone, confirm a specific vehicle’s availability in real time by means of a wireless device inside the vehicle, automatically unlock the vehicle’s doors with a remote authorization signal, and return the vehicle without the aid of any other person.
This is I.D. Systems’ second patent award pertaining specifically to wireless rental car management. The company’s first patent application for an automated vehicle rental system was filed in 1999, and the company currently has multiple related patent applications pending.
I.D. Systems has deployed its rental vehicle management technology for Avis Budget Group (Nasdaq: CAR) on approximately 30,000 vehicles in North America, as reported in November, 2012. As part of the contract between the companies, announced in August, 2011, Avis Budget also acquired an approximately 9% equity stake in I.D. Systems.
I.D. Systems expects that the newly awarded patent will help it further penetrate the rental car market and serve as a barrier to competition.
“We are very excited to be awarded this patent,” said Jeffrey Jagid, I.D. Systems’ chairman and CEO. “We envision consumers taking more control of their own car rental experience, and rental companies enjoying significant cost savings and revenue enhancements through wireless automation of their operations. This is starting to happen already, with virtual, remote rentals constituting the fastest-growing segment of the rental car industry. We believe our patented technology will be a cornerstone in revolutionizing this industry, just as electronic ticketing and check-in transformed the airline industry.”
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 rental cars, industrial vehicles, 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 idsy2019.wpengine.com.
“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.