I.D. Systems Acquires CarrierWeb, Adds Key Technology, Increases Customer Base, and Enters New Market Segments
ID SYSTEMS (IDSY)
Last id systems earnings: 8/1 04:00 pm
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US:NASDAQ Investor Relations:
ir.id-systems.com/investor-overview
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Source: GlobeNewswire
WOODCLIFF LAKE, N.J., Jan. 31, 2019 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise asset management and Industrial Internet of Things (IoT) technology, has acquired the U.S.-based assets of telematics provider CarrierWeb, an Atlanta-based provider of real-time in-cab mobile communications technology, electronic logging devices (ELDs), two-way refrigerated command and control, and trailer tracking. CarrierWeb’s U.S.-based assets will be integrated into the I.D. Systems logistics visibility solutions group, called PowerFleet® for Logistics. The acquisition closed on January 30, 2019. Growth and ExpansionWith the acquisition, I.D. Systems adds 9,000 net new subscribers to its platform. The acquisition allows I.D. Systems to offer a full complement of highly-integrated logistics technology solutions to its current customers and prospects, and immediately adds more than 70 customers, including the Customized Distribution Division of foodserv
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