I.D. Systems Expands Relationship with Avis Budget Group with a New 75,000 Unit Order for Wireless Vehicle Technology
- I.D. Systems Receives a New Order for 75,000 Units from Avis Budget Group for Broad Deployment of its Wireless Fleet Management System
- New Order Will Bring Total Units Deployed with Avis Budget Group to 125,000 Since 2018
- New Contract Includes Additional Feature and Capability Development that will Enable Avis Budget Group to Extend its Industry-Leading App Functionality to a Larger Portion of its Fleet
WOODCLIFF LAKE, N.J., Dec. 06, 2018 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (NASDAQ: IDSY) and Avis Budget Group, Inc. (NASDAQ: CAR) have executed a new purchase agreement to deploy 75,000 additional units of I.D. Systems’ proprietary wireless rental fleet management systems in Avis Budget’s vehicle fleet.
I.D. Systems’ wireless in-vehicle management system permits two-way data communications between a vehicle and various car rental operating systems. Combined with Avis Budget’s other existing technologies, I.D. Systems’ rental fleet management systems enables Avis Budget to rent and check-in vehicles virtually, all on a mobile device. The system provides Avis Budget with unique insights into the mileage, fuel level, and condition of a vehicle the minute it is returned to an Avis location. These capabilities significantly streamline and automate the vehicle data collection and billing process.
The agreement provides Avis Budget a variation of the technology to test in Europe and enables the device to provide full Zipcar functionality. I.D. Systems expects to begin delivering the hardware in the second quarter of 2019.
“We appreciate Avis Budget Group choosing I.D. Systems as a preferred provider for this follow-on order of our unique connected car solution, equipping the highest number of connected vehicles in Avis Budget Group’s fleet,” said Chris Wolfe, Chief Executive Officer of I.D. Systems. “This continues our many years of working hand-in-hand with Avis Budget Group to develop, build and implement innovative technology that enables Avis Budget Group to achieve their connected fleet and business transformational goals.”
Gerard Insall, Chief Information Officer of Avis Budget Group, commented: “The Avis App combined with a totally connected fleet is the future of mobility. With the success of our initial 50,000-unit deployment, we are pleased to expand our relationship with I.D. Systems to utilize I.D. Systems connected car solution on over one-third of our North American fleet. Our ‘connected cars’ allow us to significantly improve our customer’s rental experience by giving our customers more control and choice of their vehicle using their mobile device. We also improve their vehicle return experience by automating the check-in process. As a mobility services provider, connected car technology not only streamlines the rental experience for our customers but allows us to drive operational efficiencies.”
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, visit www.id-systems.com.
About Avis Budget Group
Avis Budget Group, Inc. is a leading global provider of vehicle rental services, both through its Avis and Budget brands, which have more than 11,000 rental locations in approximately 180 countries around the world, and through its Zipcar brand, which is the world's leading car sharing network, with more than one million members. Avis Budget Group operates most of its car rental offices in North America, Europe and Australasia directly, and operates primarily through licensees in other parts of the world. Avis Budget Group has approximately 31,000 employees and is headquartered in Parsippany, N.J. More information is available at www.avisbudgetgroup.com.
I.D. Systems Contacts:
Ned Mavrommatis, CFO
Liolios Group, Inc.