I.D. Systems acquires Keytroller
I.D. Systems has completed its acquisition of Tampa/Florida based Keytroller LLC. This move enables I.D. Systems to further consolidate its position as the leading global supplier of OEM independent, innovative and smart fleet management solutions for forklift trucks as well as within the growing market of the Industrial Internet of Things (IIoT).
Keytroller, www.keytroller.com, is the ideal partner for I.D. Systems to enable it to expand its offering of solutions for high-end fleet management technology, not only to companies operating large or very large fleets but now to those with smaller fleets. Keytroller manufactures and markets mobile asset management technology for monitoring forklifts, construction vehicles and other industrial plant equipment. Its range comprises around 40 products and offers applications for small to medium sized fleets at a wide range of price points. Keytroller’s "Access & Monitoring" systems for example are a perfect complement to I.D. Systems’ complex and multi-functional fleet management system PowerFleet®.
“We can now offer the perfect solution to any customer—no matter how large or small their fleet is, what problem they are trying to solve, or what budget they have to work with. As a supplier of OEM independent systems we ensure optimum MHE management technology which works seamlessly across all makes, models and types of trucks – and across multiple sites,” said Chris Wolfe, CEO of I.D. Systems Inc.
Joining forces and the pooling of distribution channels also opens new potential for both companies to target new markets and increase market share. Whilst I.D. Systems markets its PowerFleet® system primarily to end users and OEM manufacturers as a premier solution for global enterprises with large fleets of equipment across multiple sites, Keytroller markets its broad line of forklift management devices mainly through a widespread network of lift truck dealers - also in many EMEA markets. As we aim to develop market potential and increase sales activities in this region we are looking for further business partners. Are you interested? If so please get in touch with Ms. Ute Filippone, Business Manager EMEA & UK, at the following mail address: email@example.com
Both I.D. Systems’ CEO Chris Wolfe and Keytroller’s founder and President Terry Wickman agree that the merger is a win-win situation all round. The two companies, their partners and end users will all benefit from a broader, OEM independent choice of solutions and a larger, more capable service and support organization.
Because Keytroller has enjoyed profitable growth in recent years, there will be no radical changes to the way it conducts business. Keytroller will run as an independent division within I.D. Systems’ corporate structure led by Terry Wickman. The combined competence of both companies is expected to reap immediate benefits in terms of achieving growth objectives as well as long term benefits such as operational and cost synergies and the consolidation and streamlining of product development.
For the European I.D. Systems’ subsidiaries in Düsseldorf and Milton Keynes this strategic move represents a very positive milestone. Ute Filippone, Business Manager EMEA & UK, of I.D. Systems GmbH, Düsseldorf, comments: “This is an excellent development which signals growth of our market share. On the one hand this comprehensive programme will significantly enhance our range of consultancy expertise and service solutions. And above all we now have the opportunity to offer our innovative and smart fleet management solutions to companies operating smaller fleets, enabling us to increase revenue.”
In 2016, I.D. Systems recorded revenue of $36.8 million, while Keytroller generated $6.6 million. To date both companies have installed hundreds of thousands of management devices on forklifts and other industrial trucks around the world and they expect to significantly increase their potential for growth and turnover going forward.
Read the recently published press release at stockguru.