I.D. Systems Secures Renewal and Expansion Contract with Knight Transportation
WOODCLIFF LAKE, N.J., Oct. 19, 2015 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of wireless solutions for the Industrial Internet of Things, has secured a multi-year renewal and expansion contract with Knight Transportation, Inc. (NYSE:KNX), one of North America's largest truckload carriers, to extend Knight's deployment of VeriWise® transportation asset management solutions from I.D. Systems' Asset Intelligence™ subsidiary.
As part of the contract, Knight purchased I.D. Systems’ new cellular-based VeriWise systems, which feature a range of enhancements, including easier installation, in-transit reporting and GPS mileage tracking. The order contributed to I.D. Systems’ achievement of approximately 10,000 total transportation asset management unit sales in the third quarter of 2015.
Since 2000, Knight has utilized a wide range of VeriWise systems to manage its trailer fleet, including VeriWise Dry Van systems with cargo sensing for dry van trailers, VeriWise Reefer Control systems for refrigerated trailers, and VeriWise Track and Trace systems for chassis, flatbed trailers, and dry van trailers.
“I.D. System’s technologies have been an integral part of Knight Transportation’s trailer management for many years,” said Justin Taylor, director of trailer management at Knight Transportation. “We look forward to continuing the relationship with I.D Systems in order to maximize our trailer utilization.”
Kenneth Ehrman, chairman and CEO of I.D. Systems, added: “Knight has been an important customer and technology partner for more than 15 years. The multi-year contract extension demonstrates Knight’s confidence in our market-leading fleet management solutions. This win also reflects the increasing demand we’re experiencing for our VeriWise systems, driven by our customers’ need to improve efficiency, productivity, and return on assets in an increasingly competitive environment.”
About I.D. Systems, Inc.
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 solutions for securing, controlling, tracking, and managing high-value enterprise assets, including 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 Knight Transportation, Inc.
Knight Transportation, Inc. is a provider of multiple truckload transportation services using a nationwide network of service centers in the U.S. to serve customers throughout North America. In addition to operating one of the country’s largest tractor fleets, Knight also partners with third-party equipment providers to provide a broad range of truckload services to its customers while creating quality driving jobs for its driving associates and successful business opportunities for owner-operators. For more information, visit www.knighttrans.com.
CONTACTS: I.D. Systems Ned Mavrommatis Chief Financial Officer Phone: 201-996-9000 firstname.lastname@example.org Investor Relations Liolios Group Matt Glover or Michael Koehler Phone: 949-574-3860 IDSY@liolios.com
Released October 19, 2015