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I.D. Systems Acquires U.K.-based didBOX to
Extend Product Line and Expand Sales in Europe
Hackensack, NJ, October 19, 2009—I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of wireless asset management solutions,
today announced that it has acquired didBOX, a privately-held manufacturer and marketer of vehicle operator identification systems based in the United Kingdom.
The transaction makes didBOX a wholly owned subsidiary of I.D. Systems. The acquisition provides I.D. Systems with a well-established,
successful operation targeting the UK vehicle access control market, complements I.D. Systems’ European subsidiary, Düsseldorf-based I.D.
Systems GmbH, and enables I.D. Systems to supply a more comprehensive family of products to meet a broader range of client requirements.
“Our acquisition of didBOX expands I.D. Systems’ base of operations in Europe, gives us immediate relationships with a large family of
high-quality customers in the UK, and provides us with more flexible solution options for prospects in the industrial vehicle management market,”
said Jeffrey Jagid, I.D. Systems’ chairman and CEO.
“didBOX’s portfolio of access control solutions for industrial trucks is a strong complement to I.D. Systems’ industry-leading wireless
vehicle management systems (VMS),” said Peter Fausel, I.D. Systems’ executive vice president of sales and marketing.
“By acquiring didBOX, I.D. Systems can integrate a family of entry-level driver identification products, capitalize on a recognized
brand name in the European material handling management market, and benefit from well established distribution partners in both the U.K. and Europe.
We believe the didBOX acquisition will make I.D. Systems a more comprehensive supplier of supply chain technology—a ‘one-stop shop’ to
address the needs of virtually any European industrial fleet.”
Nigel Russell, Managing Director of didBOX, added, “Becoming part of I.D. Systems is an exciting milestone in our development.
Having laid a successful foundation—providing vehicle access control systems to the UK market over the last decade—we are now in a position
to expand our product range to meet all client requirements and introduce our products into wider European and North American markets.
In the current economic climate, it is great to see I.D. Systems confidently investing in growth and expansion.”
About Vehicle Management Systems
Vehicle management technology can improve workplace safety and security by restricting vehicle access to trained, authorized operators,
providing electronic vehicle safety inspection checklists, and sensing vehicle impacts. These systems can also reduce fleet maintenance
costs by reporting vehicle problems electronically, scheduling maintenance according to actual vehicle usage rather than by calendar or
manual data entry, and helping determine the optimal economic time to replace equipment. In addition, vehicle management systems can
help improve productivity by establishing accountability for use of equipment, ensuring equipment is in the proper place at the right time,
and providing management with unique metrics on—and controls over—equipment utilization.
About I.D. Systems
Based in Hackensack, New Jersey, with a European subsidiary in Düsseldorf, Germany, I.D. Systems is a leading provider of wireless
solutions for managing and securing high-value enterprise assets, including industrial vehicles, such as forklifts and airport ground
support equipment, and rental vehicles. The Company’s patented technology, which utilizes radio frequency identification, or RFID,
technology, addresses the needs of organizations to control, track, monitor and analyze their assets. For more information, visit www.id-systems.com.
“Safe Harbor” Statement:
This press release contains forward looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995,
such as the Company’s prospects for additional customers and revenues. Forward-looking statements include statements with respect to the Company’s 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 the Company’s 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. These forward-looking statements are subject to risk and uncertainties, including, but not limited to,
future economic and business conditions, the loss of any of the Company’s key customers or reduction in the purchase of its products by any such customers,
the failure of the market for the Company’s products to continue to develop, the inability to protect the Company’s intellectual property, the inability
to manage the Company’s 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 the Company’s filings with the Securities and Exchange Commission, including the Company’s annual report on Form
10-K for the year ended December 31, 2008. These risks could cause actual results to differ materially from those expressed in any forward looking statements
made by, or on behalf of, the Company. The Company assumes no obligation to update the information contained in this press release.
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didBOX - Latest Improvements
As the leading European provider of driver identification systems for vehicle fleet assets, didBOX continues to make money saving improvements to its products based on the specific needs of its clients.
The latest improvements include:
• The Launch of Version 1.5 of the didBOX application software. Easier than ever to load and use, it has the added advantage of producing specific user friendly reports which enable prompt proactive supervisory and management action. An example of the front page of the software and a typical report can be seen by clicking this link. Alternatively insert a picture of the report.
• Key Exclusion. Its main functional advantage is improved protection of your vehicles from unauthorised use. It provides invaluable additional control of your fleet when specific drivers need to be excluded awaiting additional training or when an ex employee may have left the company without returning a vehicle key.
• Door and Barrier Access System. Acknowledging that there are always areas within any business whose access needs to be restricted to specific individuals, this system facilitates such control. Its reporting system will pinpoint time and duration of access by authorised individuals. Just as importantly it will also determine when unauthorised access has been attempted. Full supervisory control is assured. The system is fully integrated, using the same technology, didBOX and reporting system. There is, therefore, no need to run 2 separate systems.
• Collision Monitoring. Collision monitoring is much improved and is now available with 3 accelerometers providing greater flexibility to adjust the sensitivity of the sensor. Designed to record instances of vehicle collision and over zealous use, collision monitoring provides the opportunity to rectify poor driving techniques through supportive supervisory management. Collision monitoring can save a considerable amount of time and money by reducing avoidable damage to vehicles.
• A Self Tutored Demonstration Unit. The didBOX demonstration unit is available to all potential customers who are considering driver identification but are too busy to allocate time to a formal visit by a didBOX engineer. Totally free of charge, the demonstrator can be despatched within 24 hrs and retained for 5 working days to enable the potential customer to assess the full range of advantages of the product in their own time and place. Like the real product the demonstrator is easy to use and control. However, should help be required with any function of the system immediate telephone support will always be available.
• Improved Guarantee. The ongoing proven reliability of the didBOX in some of the harshest operating industrial environments imaginable has given didBOX management the confidence to now supply the system with a 5 year parts guarantee.
Should you require further information please email didBOX or call 01722 410778
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didBOX System Benefits Recycling Giant
Valpak Recycling, a subsidiary of environmental company Valpak Ltd, has recently upgraded its forklift fleet with Gunn JCB Teletruks installed with the unique didBOX driver id and crash monitoring systems.
The didBOX system was selected because it is:
• Competitively priced with no expensive software licences
• Easy to install, unobtrusive and tamper proof
• Highly reliable and maintenance free
• Fully guaranteed for the life of the lease. In this case 3 years.
• User and Management friendly; safeguards the user, provides valuable operational data for management
Working in a demanding operational and commercial environment the didBOX is already showing clear benefits that include:
• Improvement Health and Safety performance; 50% reduction in forklift accidents
• A reduction in unplanned maintenance repairs; 10% reduction in forklift downtime
• Proactive interpretation of system data logs; 50% reduction in operational costs
• Increased productivity greatly helped by the crash monitoring system
• Growing pride in forklift ownership by operators
Reflecting on the whole experience, Andy Ball, Operations Manager, commented that the didBOX system gives him ‘……better control of Health and Safety issues and Operational Costs…..’
Click here to read Full version
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