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BRIEF-I.D. Systems enters purchase deal with Avis Budget Group
March 20, 2017 / 1:01 PM / 8 months ago

BRIEF-I.D. Systems enters purchase deal with Avis Budget Group

March 20 (Reuters) - Avis Budget Group Inc

* I.D. Systems- co, Avis Budget Group executed purchase agreement for deployment of i.d. Systems’ proprietary wireless rental fleet management systems

* I.D. Systems - first phase of new purchase agreement will incorporate i.d. Systems’ technology into 50,000 avis budget vehicles

* I.D. Systems inc - received upfront payment, which it will allocate toward development of additional system enhancements as well as ramping production

* I.D. Systemsinc - exclusive agreement also provides avis budget an option to extend system deployment across its global fleet of vehicles

* I.D. Systems- agreement provides avis budget with limited term of exclusivity for use of i.d. Systems’ technology in car and truck rental industry Source text for Eikon: Further company coverage:

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