I.D. Systems Inc. (Nasdaq: IDSY) rose 3/4 to 6 1/2 Thursday after the wireless services company announced a contract with Ford Motor Co. (NYSE: F)
The Hackensack, New Jersey-based I.D. Systems will develop new Internet-based fleet management technology for Ford. The new system will be used in Ford’s industrial vehicles, batteries, chargers and other equipment.
Other I.D. Systems clients include DaimlerChrysler Corp., Federal Express Corp., General Motors Corp. and the U.S. Postal Service. The company’s systems help users control and track the location and status of their assets.