I.D. Systems Ships First Shipments Under Jungheinrich AG Global Technology Agreement
September 24 2019 - 9:00AM
I.D. Systems,
Inc. (NASDAQ: IDSY
), a leading
provider of enterprise asset management and Industrial
Internet of Things (IoT) technology
,
announced today that it received initial orders from Jungheinrich
after successfully delivering on all development milestones.
Per our technology partnership agreement that was announced at
the beginning of this year, ID Systems worked with Jungheinrich to
develop a highly integrated telemetry platform for Jungheinrich
vehicles combined with sophisticated fleet management software.
This technology partnership will power-up Jungheinrich customers’
ability to run safer, more cost-effective intralogistics
operations.
“Our two organizations worked diligently over the past several
months to beat all development milestones, train the Jungheinrich
sales team and build a strong partnering foundation,” said Mark
Stanton, GM of PowerFleet for Industrial. “We view our relationship
as a long-term partnership and are committed to co-developing next
generation platforms with Jungheinrich and delivering the highest
quality telematics products and most advanced fleet management
systems in the world.”
“It’s great when a vision, combined with a plan of action and
great execution help that vision become reality,” said Frank
Marschatz, Service Director at Jungheinrich. “We at Jungheinrich
are excited to offer our customers solutions that quickly and
accurately monitor utilization, vehicle maintenance, damage, and
safety compliance to accurately identify problem and improvement
areas. Jungheinrich will also use the system to enhance their
Material Handling Equipment maintenance and service.”
“Our technical, sales, service and support teams in EMEA have
been working with Jungheinrich on many customer projects over the
years and we are excited to assist Jungheinrich with their
successful roll-out of their new platform,” said Ute Filippone,
Business Manager EMEA for I.D. Systems.
To learn more about I.D. Systems, visit
www.id-systems.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
acquisition of Pointer Telocation (TASE: PNTR) is expected to occur
in October 2019. Upon the closing of the acquisition, the
combined company will be renamed PowerFleet ® Inc (NASDAQ: PWFL)
and will operate as a global leader and provider of
subscription-based wireless IoT and M2M solutions for securing,
controlling, tracking, and managing high-value enterprise assets
such as industrial trucks, tractor trailers, containers, cargo, and
vehicles and truck fleets. The company will be
headquartered in Woodcliff Lake, New Jersey, with offices located
around the globe. The Company’s patented technologies will continue
to 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 JungheinrichFounded in 1953, Jungheinrich
ranks among the world’s leading providers of intralogistics
solutions. With a comprehensive portfolio of material handling
equipment, logistics systems and services, Jungheinrich is able to
offer customers customized solutions for the challenges posed by
Industry 4.0. The Hamburg-based Group is represented worldwide in
40 countries with its own direct sales companies and around 80
other countries through partner companies. Jungheinrich employs
around 18,000 people worldwide and generated Group revenue of €3.4
billion in 2017. The Jungheinrich shares are listed on the
SDAX.
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, 2018. 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
as a result of new information, future events or otherwise.
I.D.
Systems Contacts: |
|
|
Ned Mavrommatis, CFO |
|
Ute Filippone, Business Manager EMEA & UK
|
ned@id-systems.com |
|
ufilippone@id-systems.com |
+1-201-996-9000 |
|
+49 211 310 5454 60 |
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