I.D. Systems Receives Allowance of Patent on Remote Vehicle Rental System
WOODCLIFF LAKE, N.J., May 21, 2015 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless solutions for the Industrial Internet of Things, has received a notice of allowance from the United States Patent and Trademark Office for a patent on a remote vehicle rental system. The system incorporates unique methods for enabling access to a vehicle remotely, utilizing a device connected to a vehicle’s control system via a standard OBD-II diagnostic port. The vehicle-mounted device communicates with portable electronic devices, such as smart phones, via short-range radio frequency, including Bluetooth®, to enable authorized renters to unlock the vehicles’ doors and energize the vehicle through various access control methods.
“This will be I.D. Systems’ fourth patent pertaining specifically to wireless rental car management,” said Kenneth Ehrman, I.D. Systems’ chairman and CEO. “Our solutions for rental car management are designed to make it easier for rental companies to set up and manage remote, unmanned rental locations with low infrastructure costs. We believe this latest addition to our intellectual property portfolio will significantly enhance our competitive advantages in our rental fleet management business.”
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems, Inc. is a leading global provider of wireless M2M solutions for the Industrial Internet of Things. The company’s patented technology secures, controls, tracks, and manages high-value enterprise assets, including industrial vehicles, rental cars, trailers, containers, and cargo. The company’s solutions address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. I.D. Systems holds more than 75 patents related to its wireless solutions and has deployed VMS systems in more than 20 countries around the world. For more information, please visit www.id-systems.com.
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, 2014. 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.
For Investors Matt Glover/Michael Koehler Liolios Group, Inc. IDSY@liolios.com (949) 574-3860 For Trade Media Greg Smith Vice President firstname.lastname@example.org (201) 996-9000
Released May 21, 2015