Ads
News service and business centre for materials handlingHOME
Search  
/lynad/news_adclick.asp?assid=18551

18568,18565 19286
I.D. Systems buys Keytroller
Thursday, 13 Jul 2017 ( #829 )
News Story
Chris Wolfe
Mobile asset management technology provider I.D. Systems has entered into a definitive agreement to acquire the assets of Keytroller, LLC, a manufacturer and marketer of a wide range of electronic products for managing forklifts, construction vehicles, and other industrial equipment.

The purchase price is USD9 million at close, consisting of USD7 million in cash and USD2 million in I.D. Systems common stock, plus up to USD3 million in earn-out consideration over two years, also in I.D. Systems common stock.

According to an I.D. Systems statement, the two companies’ market positions and distribution channels are highly complementary. I.D. Systems sells its flagship PowerFleet industrial truck management systems primarily to large global enterprises and through forklift manufacturers (OEMs), while Keytroller markets most of its products through a large network of forklift dealers to small and medium-size end-users. PowerFleet rarely competes head-to-head with Keytroller devices.

By combining Keytroller’s mid-range and economy products with PowerFleet, I.D. Systems aims to become an unmatched single source of fleet management technology for industrial truck owners and operators, which the company believes will help it compete more effectively and diversify its revenue sources. The acquisition of Keytroller also gives I.D. Systems a new source of industrial truck usage data for its PowerFleet IQ analytics database, enhancing the value of that tool for multi-site enterprises.

"We are … excited by our planned acquisition of Keytroller," says I.D. Systems CEO Chris Wolfe. "Keytroller’s business complements our industrial truck management segment incredibly well, from product mix and market position to sales cycle and customer diversification. The acquisition should contribute immediately to I.D. Systems’ revenue and profitability, as well as position the company to achieve a more predictable, profitable revenue stream from a much more diverse customer base.

"We look forward to integrating Keytroller’s operations smoothly into our corporate family and leveraging the benefits of this acquisition as we continue to focus on future growth."

The acquisition of Keytroller is expected to close before the end of July, 2017, upon satisfaction of customary closing conditions.
Discuss Forkliftaction.com News stories in the Discussion Forums!
x
separate border
THIS WEEK'S NEWS
Global News

Global News

UNITED KINGDOM Bobcat has extended its range with the addition of the ... [more]
GERMANY Manitou has unveiled several new products at the Agritechnica trade ... [more]
AUSTRALIA Fork Force Australia has officially opened its new headquarters in ... [more]
/lynad/news_adclick.asp?assid=18557
Ads


JCB helps engineer WW1 tank centenary tribute - Rocester, United Kingdom
KION supports relief efforts - Summerville, SC, United States
Yale MX series honoured - Greenville, NC, United States
JLT adds Nordic dealer - Växjö, Sweden [more]
SINGAPORE MacGregor has held a ribbon-cutting ceremony to celebrate the opening ... [more]
JLG partners with Continental - McConnellsburg, PA, United States
TVH introduces dual-colour strobes - Olathe, KS, United States [more]
UNITED STATES Kalmar has signed a contract with a major North American ... [more]
TURKEY DP World, the global trade enabler, is upgrading two of ... [more]
GERMANY Wittenförden-based crane service provider Urban has taken delivery of a ... [more]
UNITED KINGDOM Narrow Aisle Ltd, manufacturer of the Flexi range of articulated ... [more]
Advertisement
  • 6485 Kalmar DRF450-65C5X, YEAR 2006, 45T Laden Reach Stacker, 5-High. View more
  • 6375 Terex CS45KM, YEAR 2011, 45T Laden Reach Stacker 5-High. View more
  • 6356 SMV 4542 TBX5, YEAR 2007, 45T Laden Reach Stacker 5-High. View more
  • 6573 SMV SL28 1200A, 28T Counter Balance Forklift, 3.5 m Lifting height. View more
  • 5910 Terex FDC25K7 ... [more]
Your Focus

Your Focus(Blog)

With surging automation and robotics technology advancing at a staggering ... [more]

Announcements (Ads)

PMH launches MaxTruck 2T USA campaign, and is looking for ... [more]
Load Lifter Mfg. recently hosted all of its Canadian Dealers ... [more]
RICO’s next generation of Explosion Proof lift trucks, AC-60 Phoenix ... [more]
IPO Lifts is a leading Bulgarian manufacturer of BIG heavy ... [more]
The Warehousing Education and Research Council (WERC) is the only ... [more]
Advertisement
Next year’s feature dates and topics are now confirmed! Although the topics may be refined further we are excited to reveal that the following areas will be covered: 22nd February: Power Solutions - an update 31st May: Fleet and Stock Management 27th September: Forklift Manufacturing in Europe ... [more]
/lynad/news_adclick.asp?assid=18556
Ads


Subscribe to the weekly e-newsletter.
NEWS ARCHIVE | PAST NEWSLETTERS
©2013 Forkliftaction.com - All rights reserved
 
x
©Forkliftaction.com
Forkliftaction Media Pty Ltd
PO Box 1439
Milton QLD 4064
Australia
Contact Forkliftaction.com
About Forkliftaction
The Forkliftaction Team
Privacy Policy
Site Map
Help
Business Directory
Discussion Forums
Industry News
Events Calendar
Jobs & Resumes
Photo Galleries
Blog articles
Our Bloggers

Industry Brands
Company Index
Regions & Countries
Machinery-onQ.com

Advertise on Forkliftaction
Editorial Features / Calendar
Featured Businesses
Past News Editions
Industry Associations
Storing your login information automatically.

When you select the 'Remember me' option, your login information will be stored on your computer in the form of a cookie. When you visit Forkliftaction.com again, the stored login information will be retrieved automatically and you will not have to submit your login parameters (email address and password) each time you want to visit our members-only pages.

A cookie is a small piece of data that is sent to your browser from a web server and stored on your computer's hard drive. A cookie can't read data off your hard disk or read cookie files created by other sites. Cookies do not damage your system.

 Back to Top