I.D. Systems Acquires CarrierWeb

I.D.Systems (NASDAQ:IDSY) announced on Thursday that it has acquired CarrierWeb, a company engaged in real-time in-cab mobile communications.

As quoted in the press release:

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 align with our strategy of expanding and strengthening our position in the fleet management value chain,” said Chris Wolfe, CEO of I.D. Systems. “The acquisition is immediately additive because it allows us to sell complete bumper-to-bumper telematics solutions, with higher monthly revenues, covering in-cab, refrigerated trailers, dry van and containers both to I.D. Systems’ existing customers as well as to potential customers whom we have not been able to address previously. Overall, 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.

Click here for the full text release.