Woodcliff Lake, NJ, February 12, 2013—I.D. Systems, Inc. (Nasdaq: IDSY), a leading provider of wireless solutions for securing, tracking and managing high-value enterprise assets, has received a series of purchase orders from Walgreens (NYSE: WAG, Nasdaq: WAG) for the latest generation of I.D. Systems' PowerFleet™ wireless Vehicle Management System (VMS). The new system will be deployed on hundreds of material handling vehicles across multiple distribution centers in the United States. Walgreens originally implemented I.D. Systems' wireless technology in 2003 and is systematically upgrading more than a dozen of its facilities to the current generation of PowerFleet VMS.
Included in the upgrade is implementation of I.D. Systems' new Analytics software—a set of software tools that gives executives and facility managers a single, integrated view of asset activity across multiple locations, generating site-to-site comparisons and enterprise-wide benchmarks of material handling operations. Walgreens management expects that I.D. Systems Analytics will enable deeper insights into—and help optimize—industrial vehicle performance across its distribution network.
"Walgreens is a longtime customer that has established our wireless VMS technology as a best practice for safety, cost reduction, and productivity optimization," said Ken Ehrman, I.D. Systems' president. "We are eager to support Walgreens' deployment of the latest generation of PowerFleet, which incorporates many new capabilities for vehicle access control, safety checklist automation, and intelligent impact management.
"We are particularly excited about introducing Walgreens to our new Analytics platform, which is designed to improve the speed and quality of business decisions—and shed light on the outcomes of those decisions—to help streamline enterprise material handling operations and generate a greater return on investment from corporate assets."
As the nation's largest drugstore chain with fiscal 2012 sales of $72 billion, Walgreens (www.walgreens.com) vision is to become America's first choice for health and daily living. Each day, Walgreens provides more than 6 million customers the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice in communities across America. Walgreens scope of pharmacy services includes retail, specialty, infusion, medical facility and mail service, along with respiratory services. These services improve health outcomes and lower costs for payers including employers, managed care organizations, health systems, pharmacy benefit managers and the public sector. The company operates 8,061 drugstores in all 50 states, the District of Columbia and Puerto Rico. Take Care Health Systems is a Walgreens subsidiary that is the largest and most comprehensive manager of worksite health and wellness centers and in-store convenient care clinics, with more than 700 locations throughout the country.
About the PowerFleet Wireless Industrial Vehicle Management System
The PowerFleet VMS helps improve workplace safety and security by restricting vehicle access to trained, authorized operators, providing electronic vehicle inspection checklists, and intelligently managing vehicle impacts. The system also helps reduce fleet maintenance costs by automatically uploading vehicle data, 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, PowerFleet helps improve material handling productivity by establishing equipment accountability, ensuring vehicles are in the proper place at the right time, and providing unique metrics on fleet utilization.
About I.D. Systems Analytics
I.D. Systems Analytics provides holistic visibility and analysis of enterprise-wide industrial vehicle activity, enabling management to make more informed, effective decisions, raise asset performance standards, increase productivity, reduce costs, and enhance safety. Specifically, I.D. Systems Analytics (1) quantifies best-practice enterprise benchmarks for industrial vehicle utilization and safety; (2) reveals variations and inefficiencies in material handling activity across both sites and geographic regions; (3) identifies opportunities to eliminate or reallocate vehicles, with full enterprise awareness, to reduce capital and operating costs; (4) helps balance vehicle mix and informs decisions on rentals vs. leases vs. capital purchases; (5) uncovers activity trends over time to forecast material handling asset requirements; and (6) enables performance comparisons to broad, industry-specific benchmarks.
About I.D. Systems
Based in Woodcliff Lake, New Jersey, with subsidiaries in Germany and the United Kingdom, I.D. Systems is a leading provider of solutions for securing, controlling, tracking, and managing high-value enterprise assets, including vehicles, powered equipment, trailers, containers, baggage, and cargo. The Company's patented technologies address the needs of organizations to monitor and analyze their assets to improve safety, security, efficiency, and productivity. For more information, visit www.id-systems.com.
"Safe Harbor" Statement
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; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; and plans, strategies and objectives of management for future operations, including integration plans in connection with acquisitions. 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, 2011. 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. 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.