Asset-tracking specialist I.D. Systems Inc. has acquired the U.S.-based assets of CarrierWeb, a global telematics firm that provides in-cab mobile communications, electronic logging devices and trailer tracking.
CarrierWeb’s assets will be integrated into the I.D. Systems visibility solutions group, called PowerFleet for Logistics, according to a statement released by Woodcliff Lake, N.J.-based I.D. Systems on Jan. 31.
The acquisition will add 9,000 net new subscribers to the I.D. Systems network and more than 70 new customers, including the customized distribution division of Richmond, Va.-based Performance Food Group.
The deal also represents a major advance for I.D. Systems in its quest to become the only telematics service provider with capabilities of collecting data on drivers, equipment and cargo.
CarrierMate in-cab communication device. (CarrierWeb)
“The CarrierWeb assets immediately allow us to sell complete bumper-to-bumper telematics solutions,” said Chris Wolfe, CEO of I.D. Systems. “This transaction allows us to address what the market and our customers have been asking for — a complete, fully-integrated offering.” According to Wolfe, CarrierWeb will continue operating outside the U.S. and key personnel located in the U.S. will be offered jobs with I.D. Systems.
Norm Thomas, who joined I.D. Systems in 2018 and heads up the company’s Logistics Visibility Group, is a former senior executive at CarrierWeb who also previously held a number of senior executive positions at truckload carrier U.S. Xpress, including chief technology officer.
Thomas said I.D. Systems will continue to support CarrierWeb’s products, which include ReeferMate for monitoring refrigerated trailers and cargo and CarrierMate electronic onboard recorder and logging device, while also pursuing upgrades and new products.
I.D. Systems cargo tracking device. (I.D. Systems)
I.D. Systems was founded in 1993 by two Stanford University engineers who developed wireless technology to keep track of high-value mobile assets, such as cars and forklift trucks. Its customers include Avis Budget Group, Ford Motor Co. and the U.S. Postal Service. The purchase of Asset Intelligence from General Electric in 2010 boosted the company’s presence in the commercial trailer tracking business.
I.D. Systems is a publicly owned company and reported a net loss of $3 million, or 21 cents a share, on revenue of $41.6 million in the nine months ended Sept. 30. That compared with a similar loss on revenue of $29.8 million in the same period in 2017.
CarrierWeb was started in 2001 by a group of international transportation executives in The Netherlands. The business launched first in Europe, expanded to China and Brazil in 2005, and came to the United States a year later. The company set up its U.S. headquarters in Atlanta.
In a background document released in connection with the CarrierWeb acquisition, I.D. Systems said its development teams are working on “the next generation of in-cab products, new refrigerated tracking devices with two-way command and control, cargo monitoring and tracking, and the adoption of our analytics engine and artificial intelligence platform for all devices.”
In October, I.D. Systems introduced FreightCam, a telematics device that can take pictures inside of trailers, and a voice-activated reporting tool called Lucy.