I.D. Systems Acquires CarrierWeb USA

I.D. Systems Acquires CarrierWeb, Adds Key Technology, Increases Customer Base, and Enters New Market Segments

Company Positioned as Turnkey Logistics IoT Technology Provider
 

WOODCLIFF LAKE, N.J., 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 Expansion

With 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 foodservice industry leader Performance Food Group (PFG). “The CarrierWeb assets immediately allow us to sell complete bumper-to-bumper telematics solutions, with higher monthly revenues, covering in-cab, refrigerated trailers, dry van and containers,” said Chris Wolfe, CEO of I.D. Solutions. “This transaction allows us to address what the market and our customers have been asking for — a complete, fully-integrated offering.”

An Unmatched Single Source of Fleet Management Tracking Technology

I.D. Systems and CarrierWeb offer complementary services that together allow for an unparalleled single source of fleet management tracking technology. The CarrierWeb solutions will be integrated into I.D. Systems’ recently launched line of logistics telemetry solutions, which include a suite of interoperable sensors, an interactive voice-user interface, and a first-of-its-kind image-based cargo visibility detector. These robust technological platforms enhanced I.D. Systems tracking, monitoring, and reporting capabilities to provide freight transportation providers, shippers and supply chain stakeholders with powerful insights to make smarter and faster decisions. CarrierWeb’s patented technology is designed to better manage transportation workflow, streamline data operations and management for mobile communications. CarrierWeb’s key products offer a range of innovative solutions for truck, dry trailer, refrigerated trailer, and driver monitoring and management:

  • ReeferMate® is a standalone cost-effective solution that enables users to monitor and remotely manage refrigerated trailers and cargo;
  • CarrierMate™ is an advanced touch screen electronic on-board recorder / electronic logging device (AOBRD/ELD) that also provides a driver-preferred ELD for regulatory compliance.

I.D. Systems is committed to the integration and future development of the CarrierWeb technology platform. The new PowerFleet® for Logistics division is led by Norm Thomas, who joined I.D. Systems in 2018 from PeopleNet, where he led professional services, software engineering and integration technology. Previously, Thomas served as a senior executive at CarrierWeb, as well spent more than 10 years at U.S. Xpress in a range of senior roles, including Chief Technology Officer. To learn more about I.D. Systems, www.id-systems.com/. For more information on the company’s Logistics Visibility Solutions, visit www.logistics-visibility.com/.

About I.D. Systems

Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Florida, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets such as 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 CarrierWeb

CarrierWeb provides, real-time in-cab mobile communications, with an easy-to-use fully compliant ELD solution, driver workflow and activity capture for private and for-hire fleets seeking an ELD solution. The U.S. Headquarters that was acquired is based in Atlanta, Georgia. CarrierWeb focuses on providing mobile communications at an inclusive lower fixed cost combined with innovative solutions, flexible custom reports and exceptional customer service that allow its customers to meet the demands of today’s marketplace. CarrierWeb integrates with major TMS solutions and has a proprietary powerful middleware that facilitates a rapid direct integration with in-house ERP systems. For more information, visit www.carrierweb.com.

Cautionary Note Regarding Forward-Looking Statements

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 forwardlooking statements. For example, forward-looking statements include statements regarding: prospects for additional customers; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; emerging new products; and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. 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, 2017. 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. Unless otherwise required by applicable law, 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.

I.D. Systems Contact

Ned Mavrommatis, CFO
ned@id-systems.com
(201) 996-9000

Investor Contact

Liolios for I.D. Systems
Matt Glover
IDSY@liolios.com
(949) 574-3860

Media Contact

Mike Hardman, Hardman Group
mike@hardmangrp.com
330-285-4141

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Cooltrax Now Integrated with CarrierWeb ELD Telematics Platform

New Integration Simplifies Sign-in Process and Enhances ELD Data Access for Cooltrax Customers

ATLANTA (PRWEB) October 29, 2018 — Cooltrax, a global leader in cold chain visibility and food safety
solutions, has announced an integration of its industrial IoT platform with CarrierWeb®, a global provider of
ELD telematics and other fleet management solutions. Through this first phase integration, Cooltrax and
CarrierWeb customers can now access critical product temperature data and driver logs using a single sign-in
for quick and convenient visibility into both data sets.

The collaboration between the two companies provides Cooltrax customers with access to the CarrierWeb
CarrierMate™ ELD telematics platform, allowing them to track driver hours, manage fuel usage and drive
increased productivity. CarrierWeb customers, likewise, can utilize Cooltrax’ industry-leading family of
wireless sensors and pallet level temperature monitoring. In addition, joint customers utilizing both systems are now able to change from one back-office system to the other without using a second log-in.

“Our customers want the ability to view all of their compliance data through a single portal,” said Mike Sharpe,
President, Cooltrax North America. “With our goal of providing visibility and actionable insights sourced from
key supply chain data, we have long recognized the value of combining tractor and trailer data. By integrating
with the CarrierWeb ELD platform, we can offer Cooltrax customers single sign-on capabilities and real-time
access to driver logs and product level temperatures with the ease of use our customers expect.”

Supply chain visibility is crucial to the viability of produce and other items that require temperature-controlled environments for shipping and storage. Quick access to transportation data enables businesses to make smarter informed decisions faster. Integrating with CarrierWeb brings Cooltrax closer to its vision of providing end-to-end supply chain visibility and real-time data insights for customers utilizing innovative Cooltrax solutions like Fresh InStore for warehouse and retail locations and Fresh InSide for products.

ABOUT COOLTRAX
For more than 10 years, Cooltrax has helped companies across the globe operate their businesses more
efficiently, with a suite of solutions that provide unparalleled visibility and control of their entire cold chain while providing warehouse and fleet managers the analytics and real-time data to manage all their cold storage locations and reefer units with confidence resulting in improved ROI. Cooltrax enables transportation, logistics, wholesale, and retail companies to become more valuable to their customers by providing visibility and actionable supply chain insights through its real-time industrial IoT platform and family of wireless
environmental sensors to cover trailers, storage, in-store and at product level. For more information, visit
www.cooltrax.com.

ABOUT CARRIERWEB
CarrierWeb is a global leader in advanced, real-time in-cab mobile communications, with an easy-to-use fully
compliant ELD solution, driver workflow and activity capture for private and for-hire fleets seeking an ELD
solution. Headquartered in Atlanta, Georgia, its products are sold in the U.S., Brazil, China, Europe and North
Africa. CarrierWeb focuses on providing mobile communications at an inclusive lower fixed cost combined
with innovative solutions, flexible custom reports and exceptional customer service that allow its customers to
meet the demands of today’s marketplace. CarrierWeb integrates with major TMS solutions and has a
proprietary powerful middleware that facilitates a rapid direct integration with in-house ERP systems. For more
information, visit www.carrierweb.com.

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New Food Safety Rules Pose Impact for Refrigerated Carriers

Refrigerated carriers face a bevy of new mandates governing not only the condition and operation of equipment used transport foodstuffs but the capture and preservation of shipment temperatures, along with driver training requirements, due to go into effect March 31.

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