Powerfleet

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Powerfleet, Inc.
FormerlyI.D. Systems Inc.
Company typePublic
Nasdaq: AIOT
IndustryCommunications Equipment
Founded1993; 32 years ago (1993)
Headquarters
Woodcliff Lake, New Jersey
,
United States
Key people
  • Steve Towe (CEO)
  • David Wilson (CFO)
  • Offer Lehmann (COO)
  • Jonathan Bates (CMO)
Number of employees
2,500+
Websitewww.powerfleet.com

Powerfleet, Inc. (formerly I.D. Systems, Inc.) is an American company headquartered in Woodcliff Lake, New Jersey, that operates as a global provider of IoT and M2M solutions for securing, controlling, and tracking high-value enterprise assets.[1] The company is a provider in the international telematics industry, providing fleet management, asset tracking, freight visibility, and driver behavior monitoring for industrial trucks, vehicle fleets, and shipping containers.

Industry research firms have described Powerfleet as a key player across multiple continents. In Europe, the company is described as a large provider of fleet management solutions.[2][1] Similarly, it is a major competitor in the Americas.[3] In the Latin American market, Powerfleet is ranked among the top five largest providers, in a region where the number of active fleet management systems is projected to reach 16.6 million by 2029.[4] The company maintains offices internationally and a technology innovation center in Israel.

Overview

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Powerfleet was formed on October 3, 2019 when I.D. Systems acquired Pointer Telocation Ltd. and their subsidiary brand Cellocator, and subsequently rebranded the new company as Powerfleet Inc.[5]

Powerfleet provides a technology suite that delivers telematics, asset tracking, freight visibility, and driver behavior reporting.[6] These services are core to the modern practice of fleet digitalization and fleet management.

History

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I.D. Systems was founded in 1993 by Kenneth S. Ehrman. The company introduced the use of radio frequency identification (RFID) technology for industrial asset tracking and management. In 1995, I.D. Systems was awarded a $6.6 million[7] contract from U.S. Postal Service (USPS) to develop and implement a tracking system for test letters and packages.[8] I.D. Systems went public on the NASDAQ in 1999.[7]

In 2005, I.D. Systems received a three-year contract from the U.S. Postal Service to implement its Wireless Asset Net, a wireless industrial vehicle management system, at 460 USPS facilities nationwide. In 2009, I.D. Systems acquired didBOX Ltd., a privately held, United Kingdom-based manufacturer and marketer of driver identification systems for forklift fleets. The acquisition made didBOX a wholly owned subsidiary of I.D. Systems, broadened I.D. Systems' product line, and expanded sales of the company's vehicle management solutions[buzzword] in the European market.[9]

In 2010, I.D. Systems acquired GE Asset Intelligence, LLC, a business unit of the General Electric Company. The acquisition expanded the scope of I.D. Systems' product line and complemented its portfolio of wireless asset management patents.[10]

In 2011, I.D. Systems and Avis Budget Group signed an exclusive agreement to deploy I.D. Systems' wireless vehicle management technology on more than 25,000 Avis Budget vehicles,[11] enabling Avis customers to self-manage their rentals by computer or smartphone. The technology can also automate and expedite the rental and return process, track vehicle mileage, measure fuel consumption, and remotely control a vehicle's door locks.[12] In February 2013, the company was awarded its second patent (patent number 8370268) for an automated wireless rental car management system.[13]

In 2012, the company launched I.D. Systems Analytics, a set of web-based data reporting software tools.[14][15]

In 2017, the company acquired Keytroller LLC for $9 million. Keytroller sold electronic products for managing forklifts, construction vehicles, and other industrial equipment, including devices that function as a telematic control unit.[16][independent source needed]

In 2019 the company acquired Pointer Telocation LTD and renamed itself as Powerfleet Inc. As part of this change, the company retired its NASDAQ ticker symbol of IDSY and adopted PWFL.[17][independent source needed]

Awards and recognitions

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  • Material Handling Product News (MHPN) fourth-annual Readers’ Choice Products of the Year Awards for Powerfleet Essence.[18]
  • 2014 M2M Evolution IoT Excellence Award for its Powerfleet wireless vehicle management system.[19]
  • Named one of the top 100 technology solutions providers to the food and beverage industry by Food Logistics, a trade publication.[20]
  • Ranked 308th on Deloitte's Technology Fast 500 list.[20]


References

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  1. ^ a b "Europe Fleet Management Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)". Mordor Intelligence. Retrieved September 25, 2025.
  2. ^ "Fleet Management in Europe - 19th Edition". GII Research. Retrieved September 25, 2025.
  3. ^ "Fleet Management in the Americas - 14th Edition". Research and Markets. Retrieved September 25, 2025.
  4. ^ "The installed base of fleet management systems in Latin America will reach 16.6 million units by 2029". Berg Insight. September 17, 2024. Retrieved September 25, 2025.
  5. ^ "Newly rebranded Powerfleet finalizes Pointer Telocation acquisition". FreightWaves. October 3, 2019. Retrieved November 4, 2020.
  6. ^ Lockridge, Deborah. "Powerfleet's Chris Wolfe on Changing the Way Fleets Manage Assets, Cargo". www.truckinginfo.com. Retrieved November 4, 2020.
  7. ^ a b I.D. Systems Website, retrieved February 19, 2013
  8. ^ "If the Check Is in the Mail, A New System Can Trace It", The New York Times, May 31, 1998
  9. ^ "I.D. Systems Acquires U.K.-based didBOX to Extend Product Line and Expand Sales in Europe", GlobeNewswire, October 19, 2009
  10. ^ "I.D. Systems Acquires GE Asset Intelligence", FleetOwner, January 13, 2010
  11. ^ "Avis Budget Launches ‘Avis On Location’", Auto Rental News, August 23, 2011
  12. ^ Claire Swedberg,"Avis Uses RFID for Remote Location Rentals", RFID Journal, August 30, 2011
  13. ^ "I.D. Systems Awarded Patent for Automated Wireless Vehicle Rental System", cnbc.com. February 6, 2013
  14. ^ Toby Gooley, "New software benchmarks lift truck fleet performance against peers", DC Velocity, October 5, 2012
  15. ^ Josh Bond, "New offerings lifts the curtain on lift trucks", Modern Material Handling, September 26, 2012.
  16. ^ Inc, Powerfleet (July 11, 2017). "I.D. Systems to Acquire Keytroller, Strengthening Its Position in Industrial Truck Management Market and Overall Growth Outlook". GlobeNewswire News Room (Press release). Retrieved April 6, 2021. {{cite press release}}: |last= has generic name (help)
  17. ^ Systems, Pointer Telocation Ltd ; I. D. "I.D. Systems to Acquire Pointer Telocation, a Leading Telematics and Mobile IoT Solutions Company, for $140 Million in Cash and Stock". www.prnewswire.com (Press release). Retrieved April 6, 2021.{{cite press release}}: CS1 maint: multiple names: authors list (link)
  18. ^ Staff, MHPN. "Latest Keytroller - Material Handling 24/7". www.materialhandling247.com. Retrieved November 4, 2020.
  19. ^ "Winners of the 2014 M2M Evolution IoT Excellence Award Announced". www.iotevolutionworld.com. Retrieved November 4, 2020.
  20. ^ a b "Full Year 2014 Results". www.sec.gov. Retrieved November 4, 2020.
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