Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
Trump Signals Push for Lower Health Insurance Prices as ACA Premium Concerns Grow 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Elon Musk Wins Reinstatement of Historic Tesla Pay Package After Delaware Supreme Court Ruling 
Roche CEO Warns US Drug Price Deals Could Raise Costs of New Medicines in Switzerland 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties 
Google and Apple Warn U.S. Visa Holders to Avoid International Travel Amid Lengthy Embassy Delays 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Bridgewater Associates Plans Major Employee Ownership Expansion in Milestone Year 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
WOODCLIFF LAKE, N.J, Feb. 26, 2016 -- I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology and solutions for the Industrial Internet of Things, has received additional orders from one of North America’s largest truckload carriers for the VeriWise® Intermodal Container tracking system. The carrier purchased 500 new units, adding to a previous large-scale purchase in 2014, and extended the service contracts from previous purchases by 3 years. Together, the new purchases and service extension contracts are valued at $1.2 million.
The VeriWise® Intermodal Container tracking solution helps carriers maximize container fleet utilization and minimize idle time by providing visibility of loading/unloading events. Using ultrasonic cargo sensing and patented light sensing technologies, the system generates real-time data on load status throughout the shipment cycle, and is the only integrated solution that provides load and door status without the need for wired sensors. The system can reduce shipment cycle times by an average of 72 hours per container per month, and increase shipment volume and revenue by 10%, without increasing fleet size.
I.D. Systems Chairman and CEO Kenneth Ehrman stated: “We are delighted that our VeriWise® Intermodal Container solution is delivering the value we expected to see for this customer. With the real time visibility provided by VeriWise®, intermodal carriers can improve container shipping by enabling quicker asset turns, minimizing idle time, and reducing chassis rentals. These benefits have a clear and direct impact on increasing revenue per container and boosting bottom line results.”
About I.D. Systems, Inc.
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 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 www.id-systems.com.
CONTACTS: I.D. Systems Ned Mavrommatis Chief Financial Officer Phone: 201-996-9000 [email protected] Investor Relations Liolios Group Matt Glover or Michael Koehler Phone: 949-574-3860 [email protected]
