WOODCLIFF LAKE, N.J., Sept. 06, 2018 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management
technology, has announced today that it will combine the operations of its existing Vehicle Management Systems (VMS) division with
the recent successful acquisition of Keytroller, LLC. This new business unit will operate as I.D. Systems’ PowerFleet® division
that focuses on the delivery of world-class Industrial Truck Management Systems (ITMS). Building on the DNA of success created by
Terry Wickman, founder of Keytroller, this new division will combine the strategic account prowess from the VMS division to create
a holistic offering for the market.
Chris Wolfe, I.D. Systems CEO explained: “The acquisition of Keytroller in 2017 provided I.D. Systems with a broader portfolio
of products that allows us to service every customer, large and small. To ensure continued success and growth, it was logical to
bring our VMS and Keytroller® teams together. This allows I.D. Systems to create a seamless sales, marketing, engineering and
support group to better serve our customers, partners and employees.”
The new business unit will be led by Mark Stanton, who was promoted to VP & GM of the PowerFleet® division. Stanton has led the
VMS business unit for the past four years and was an integral part of the Keytroller® acquisition and transition into I.D.
Systems.
“I am very excited at the potential for these two organizations to merge together into one unified operation,” said Stanton. “It
is a great opportunity for the team to continue with the strong market momentum we have created, and it will also enable us to
optimally support our customers and partners as they grow their businesses together with our PowerFleet® solutions.”
The PowerFleet® division will be relocating to new facilities in the Tampa area at the end of 2018. A Center of Excellence will
be created at this location to drive innovation within product engineering, development, testing, and customer support. This new
center will become the engine for new, innovative, world-class products for the industrial truck market.
“Mark is the ideal candidate to lead our new PowerFleet® division. I.D. Systems is poised to deliver exciting products and
services that will transform the industrial truck telematics market while creating significant value for our Customers and
Partners,” stated Wolfe.
Wickman will remain actively involved with the transition within the role of International Business Development.
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.id-systems.com.
I.D. Systems Contact
Ned Mavrommatis, CFO
ned@id-systems.com
(201) 996-9000
Investor Contact
Matt Glover
Liolios
IDSY@liolios.com
(949) 574-3860