HACKENSACK, N.J., Oct. 19, 2009 (GLOBE NEWSWIRE) -- I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless asset management solutions, today announced that it has acquired didBOX, a privately-held manufacturer and marketer of vehicle operator identification systems based in the United Kingdom. The all-cash transaction is valued at 402,000 pounds (approximately $660,000), with 325,000 pounds ($533,000) paid up front and the balance due 12 months from the contract date, based on achievement of certain revenue and operating profit targets. In its fiscal year ended May 31, 2009 (unaudited), didBOX realized a nominal profit on revenues of approximately 402,000 pounds ($660,000).

"Our acquisition of didBOX expands I.D. Systems' base of operations in Europe, gives us immediate access to a broader base of European customers, and provides us with a wider array of solution options for prospects in the industrial vehicle management market," said Jeffrey Jagid, I.D. Systems' chairman and CEO.

"didBOX's portfolio of access control solutions for industrial trucks is a strong complement to I.D. Systems' industry-leading wireless vehicle management systems (VMS)," said Peter Fausel, I.D. Systems' executive vice president of sales and marketing. "By acquiring didBOX, I.D. Systems can integrate a family of entry-level driver identification products, capitalize on a recognized brand name in the European material handling management market, and benefit from well established distribution partners in both the U.K. and Europe. We believe the didBOX acquisition will make I.D. Systems a more comprehensive supplier of supply chain technology -- a 'one-stop shop' to address the needs of virtually any European industrial fleet."

About Wireless Vehicle Management Systems

Wireless vehicle management technology can improve workplace safety and security by restricting vehicle access to trained, authorized operators, providing electronic vehicle safety inspection checklists, and sensing vehicle impacts. These systems can also 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, wireless vehicle management systems can help improve productivity by establishing accountability for use of equipment, ensuring equipment is in the proper place at the right time, streamlining work flow through automated task messaging, and providing management with unique metrics on -- and controls over -- equipment utilization.

About I.D. Systems

Based in Hackensack, New Jersey, with a European subsidiary in Dusseldorf, Germany, I.D.