I.D. Systems Inc., a Woodcliff Lake-based provider of Internet of Things technology for fleet management, announced Thursday it has acquired CarrierWeb, an Altanta-based telematics provider.
Under terms of the deal, CarrierWeb’s U.S.-based assets will be integrated into I.D. Systems’ new logistics visibility solutions division, PowerFleet for Logistics. The combination will provide a single source of fleet management tracking solutions.
I.D. Systems will also add 9,000 new subscribers and 70 new customers to its platform, including the Customized Distribution division of Performance Food Group.
“The CarrierWeb assets align with our strategy of expanding and strengthening our position in the fleet management value chain,” Chris Wolfe, CEO of I.D. Systems, said. “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.”
Norm Thomas, who joined I.D. Systems in 2018 from PeopleNet, will head the company’s new logistics division. He previously served as senior executive at CarrierWeb as well as spent more than 10 years at U.S. Xpress, including as its chief technology officer.
