ID Systems acquires GE's Asset Intelligence

Wednesday, 13 January, 2010 (Age: 235 days)

I.D. Systems, a leading provider of wireless asset management solutions, haas announced that it has acquired Asset Intelligence, a business unit of General Electric.

The acquisition is for $15 million in cash, with an additional cash consideration of up to $2 million payable upon the achievement of certain performance milestones. Asset Intelligence provides trailer and container tracking solutions for manufacturers, retailers, shippers and freight transportation providers, and has more than 120,000 units under contract.

ID Systems is a provider of wireless information technology for managing high-value corporate assets and, according to the company, the focus of Asset Intelligence on trucking, rail, marine and intermodal applications significantly expands the scope of assets addressed by ID Systems' solutions.

Category: RFID, Data Collection, Smart Cards