I.D. Systems announced its acquisition of PowerKey, a developer of wireless management solutions for industrial vehicles.
The deal is valued at $500, 000 and is meant to expand New Jersey-based I.D. Systems' wireless asset management solutions.
The company also announced a product called PowerKeyPLUS, marketed as an entry-level solution for the industrial vehicle management market.
The product features vehicle access control, safety checklists and impact sensing, which are meant to improve management of safety and maintenance issues associated with industrial vehicles.
PowerKey customers include vehicle makers Caterpillar, Owens Corning, Visteon, and Whirlpool, and these will be added into I.D. Systems' own customer base.
Manufacturing, marketing and support of PowerKey products will be largely absorbed by I.D. Systems, the company said.