I.D. SYSTEMS AGREES TO WORK WITH GE HARRIS ON DEVELOPING RAILWAY ELECTRONICS APPLICATIONS
NEW YORK
I.D. Systems Inc., a provider of wireless solutions, announces that it has entered into a strategic teaming agreement with GE Harris
Railway Electronics LLC, a provider of electronics, communications and train control technology for the global railroad industry, to collaborate on the development of applications and opportunities in the rail industry. GE Harris is a joint venture between General Electric (GE) Transportation Systems and Harris Corp. The agreement, which has a one-year term, also provides GE Harris with an opportunity to purchase 300,000 shares of I.D. Systems common stock if certain conditions of equity investment and sales volume of I.D. Systems products are met. Jeffrey Jagid, COO for I.D. Systems, says, “We are very pleased to establish this key relationship with GE Harris. In accordance with our corporate strategy, this relationship lays the groundwork for I.D. Systems products to penetrate and quickly expand in the railroad market.”
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Related Content
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Commercial Integrator + Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add to your bottom line.
A FREE subscription to the top resource for security and integration industry will prove to be invaluable.
