Woodcliff Lake, NJ — I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of wireless M2M asset management solutions, has executed a contract with a U.S. railroad to deploy its VeriWise™ Track and Trace system on a fleet of intermodal containers. The 60-month contract with the railroad—a new customer—is valued at over $500,000.
The Track and Trace system provides real-time asset location via GPS, cellular communications and web-based software. The system installs quickly and features patented power management technology for long, maintenance-free battery life.
"We are very pleased to add a customer in the railroad market, and we believe this contract reflects the many competitive advantages of our Track and Trace system," said Kenneth Ehrman, president, chairman and CEO of I.D. Systems. "The reliability and cost-effectiveness of the Track and Trace system—as well as its ability to monitor the location and status of our intermodal containers in real time—were decisive factors in winning this contract. We look forward to helping our new railroad customer manage its fleet of intermodal containers more effectively, reduce costs, and generate more revenue."
About I.D. Systems and Asset Intelligence
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, including industrial vehicles, rental cars, containers, trailers, 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.id-systems.com.
Asset Intelligence, an I.D. Systems subsidiary 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.