Woodcliff Lake, NJ, December 22, 2014—I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of wireless M2M asset management solutions, will implement its wireless Vehicle Management System (VMS) at a Ford plant in Southeast Asia. Ford currently has I.D. Systems’ VMS technology deployed in plants throughout North America and Europe.
I.D. Systems’ subsidiary, I.D. Systems GmbH, facilitated the order and will provide account and project management for the southeast Asian facility.
“We are gratified by our continued strong relationship with Ford, and very excited about further expanding our technology in Asia, which is the world’s fastest growing market for industrial trucks,” said Kenneth Ehrman, I.D. Systems chairman and CEO. “We look forward to helping Ford stay at the forefront of supply chain management with our best-practice wireless industrial vehicle management technology.”
About Vehicle Management Systems
A wireless Vehicle Management System (VMS) helps improve workplace safety and security by restricting the use of industrial equipment to trained, authorized operators, and by providing electronic vehicle inspection checklists. A wireless VMS also helps reduce maintenance expenses by automatically uploading vehicle data, reporting checklist issues in real time, basing maintenance schedules on actual vehicle usage rather than calendar time, and helping determine the optimal economic time to replace equipment. In addition, the system helps improve equipment utilization and reduces the total cost of fleet ownership by ensuring equipment is in the proper place at the right time and streamlining work flow.
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.
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