$16B Michigan Data Center Project Boosts U.S. AI Infrastructure Expansion 
Judge Dismisses Elon Musk’s Fraud Claims Against OpenAI, Trial to Proceed on Remaining Allegations 
Microsoft Commits $18 Billion to Expand AI and Cloud Infrastructure in Australia 
PLS Reports Record Lithium Output as EV Demand Fuels Market Growth 
Mercedes-Benz Faces Rising Competition in China but Rejects Price War Strategy 
European Car Sales Surge in March as EV and Hybrid Demand Accelerates 
SK Hynix Reports Record Q1 Profit Surge Driven by AI Memory Chip Demand 
DeepSeek Launches V4 AI Models with Enhanced Reasoning and 1M Token Context Window 
U.S. Raises Alarm Over Chinese AI Firms’ Alleged IP Theft Through Model Distillation 
Florida Investigates OpenAI and ChatGPT Over Alleged Role in FSU Shooting 
Meta Expands AI Training With Employee Activity Tracking Tools 
Florida Launches Criminal Probe Into OpenAI Over FSU Shooting Incident 
U.S. Sanctions Target Chinese Refinery Over Iranian Oil Purchases 
SpaceX President Gwynne Shotwell Earns $85.8M as IPO Buzz Grows 
Tesla Earnings Beat Expectations as EV Growth Holds Amid Robotics and AI Shift 
Rising Jet Fuel Costs from Iran Conflict Push Airfare Higher Across Europe 
SK Hynix to Invest $13 Billion in AI Chip Packaging Facility 
WOODCLIFF LAKE, N.J, Feb. 26, 2016 -- I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of enterprise asset management technology and solutions for the Industrial Internet of Things, has received additional orders from one of North America’s largest truckload carriers for the VeriWise® Intermodal Container tracking system. The carrier purchased 500 new units, adding to a previous large-scale purchase in 2014, and extended the service contracts from previous purchases by 3 years. Together, the new purchases and service extension contracts are valued at $1.2 million.
The VeriWise® Intermodal Container tracking solution helps carriers maximize container fleet utilization and minimize idle time by providing visibility of loading/unloading events. Using ultrasonic cargo sensing and patented light sensing technologies, the system generates real-time data on load status throughout the shipment cycle, and is the only integrated solution that provides load and door status without the need for wired sensors. The system can reduce shipment cycle times by an average of 72 hours per container per month, and increase shipment volume and revenue by 10%, without increasing fleet size.
I.D. Systems Chairman and CEO Kenneth Ehrman stated: “We are delighted that our VeriWise® Intermodal Container solution is delivering the value we expected to see for this customer. With the real time visibility provided by VeriWise®, intermodal carriers can improve container shipping by enabling quicker asset turns, minimizing idle time, and reducing chassis rentals. These benefits have a clear and direct impact on increasing revenue per container and boosting bottom line results.”
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.
CONTACTS: I.D. Systems Ned Mavrommatis Chief Financial Officer Phone: 201-996-9000 [email protected] Investor Relations Liolios Group Matt Glover or Michael Koehler Phone: 949-574-3860 [email protected]
