PLANO, TX — Asset Intelligence, a leading provider of supply chain asset tracking solutions and a subsidiary of I.D. Systems, Inc. (Nasdaq: IDSY), today announced the launch of a new product: VeriWise™ Track & Trace, a low-cost trailer and container tracking system that provides real-time information to improve the utilization, efficiency, and cargo security of trailer and container fleets.
VeriWise™ Track & Trace is designed for quick, flexible installation on a wide range of cargo-carrying assets; the system can be installed on dry vans, flatbed trailers, intermodal containers, chassis, and storage containers. A magnetic mount option is available for temporary installations, which enables easy movement between assets. VeriWise™ Track & Trace is also designed for years of maintenance-free operation, with patented power management technology to provide exceptionally long battery life.
“VeriWise™ Track & Trace is an affordable, effective, easy-to-deploy solution that can quickly drive out cost and inefficiency from trailer and container fleet operations, as well as increase the security of those assets,” said Darryl Miller, Chief Operating Officer of I.D. Systems. “The introduction of our Track & Trace system enables organizations with basic trailer and container tracking needs to proactively improve fleet management. VeriWise™ Track & Trace also expands the range of products provided by Asset Intelligence and I.D. Systems, which further strengthens our position as one of the world’s preeminent provider of supply chain asset management solutions.”
About I.D. Systems and Asset Intelligence
Based in Hackensack, New Jersey, with subsidiaries in Germany and the United Kingdom, I.D. Systems is a leading provider of solutions for securing, controlling, tracking, and managing high-value enterprise assets, including vehicles, powered equipment, trailers, containers, baggage, and cargo. The Company’s patented technologies address the needs of organizations to monitor and analyze their assets to improve safety, security, efficiency, and productivity.
Asset Intelligence, a subsidiary of I.D. Systems based in Plano, Texas, is a leading provider of trailer and container tracking solutions for manufacturers, retailers, shippers and freight transportation providers. It offers a full range of solutions to improve safety, security and productivity throughout global supply chains.
“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 the acquisition. 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, 2009. 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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