I.D. Systems, Inc., a provider of wireless M2M asset management solutions, has executed a contract with a U.S. railroad to deploy its VeriWise Track and Trace system on a fleet of intermodal containers. The 60-month contract with the railroad — a new customer — is valued at more than $500,000.
The Track and Trace system provides real-time asset location via GPS, cellular communications and Web-based software. The system installs quickly and features patented power management technology for long, maintenance-free battery life.
“We are very pleased to add a customer in the railroad market, and we believe this contract reflects the many competitive advantages of our Track and Trace system,” said Kenneth Ehrman, president and interim CEO of I.D. Systems. “The reliability and cost-effectiveness of the Track and Trace system — as well as its ability to monitor the location and status of our intermodal containers in real time — were decisive factors in winning this contract. We look forward to helping our new railroad customer manage its fleet of intermodal containers more effectively, reduce costs, and generate more revenue.”