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 www.powerfleet.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 www.powerfleet.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.
