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.
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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.
