U.S. markets closed
  • S&P 500

    4,128.80
    +31.63 (+0.77%)
     
  • Dow 30

    33,800.60
    +297.03 (+0.89%)
     
  • Nasdaq

    13,900.19
    +70.88 (+0.51%)
     
  • Russell 2000

    2,243.47
    +0.88 (+0.04%)
     
  • Crude Oil

    59.34
    -0.26 (-0.44%)
     
  • Gold

    1,744.10
    -14.10 (-0.80%)
     
  • Silver

    25.33
    -0.26 (-1.02%)
     
  • EUR/USD

    1.1905
    -0.0016 (-0.13%)
     
  • 10-Yr Bond

    1.6660
    +0.0340 (+2.08%)
     
  • GBP/USD

    1.3706
    -0.0029 (-0.21%)
     
  • USD/JPY

    109.6500
    +0.3860 (+0.35%)
     
  • BTC-USD

    59,374.27
    +946.06 (+1.62%)
     
  • CMC Crypto 200

    1,235.89
    +8.34 (+0.68%)
     
  • FTSE 100

    6,915.75
    -26.47 (-0.38%)
     
  • Nikkei 225

    29,768.06
    +59.08 (+0.20%)
     

Rekor's Vehicle Recognition Solutions Selected by City of Lauderhill, Fla. to Increase Public Safety for its 70,000+ Residents

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

City's police to use Rekor Edge "plug-and-play" vehicle recognition cameras and powerful Watchman software with industry leading accuracy for contract valued at approximately $1.79 million

COLUMBIA, MD / ACCESSWIRE / February 4, 2020 / Rekor Systems, Inc. (REKR) ("Rekor"), a Nasdaq company focused on bringing smarter, faster, cost-competitive solutions to the worlds of public safety and customer experience, announced today that it has been selected by the City of Lauderhill, Florida (the "City") to provide robust vehicle recognition solutions to increase public safety. The City issued a Notice of Intent to Rekor, with official terms of the $1.79 million contract subject to final negotiations. The contract is expected to provide for a five-year term.

The City selected Rekor to roll out its Rekor Edge vehicle recognition cameras and Watchman software providing law enforcement an additional public safety resource. Rekor was selected after a rigorous review period in which its industry-leading license plate recognition ("LPR") technology outscored several well-known competitors. Seventy-three locations for fixed cameras have been identified that will provide the best possible coverage to protect the entire City of Lauderhill community.

"We are proud to be selected for another significant local municipal/law enforcement contract and to partner with The City of Lauderhill to provide innovative technology solutions that can help keep their community safe," said Robert A. Berman, President and CEO, Rekor. "The City's selection of Rekor's vehicle recognition solutions serves continuing notice to the market that our technology is highly sought after due to its accuracy, affordability, and scalability. With multiple additional opportunities in our pipeline, we believe our innovative licensing model will be paramount in continuing to win business and driving value back to shareholders."

The agreement with the City follows recent awards from Mt. Juliet, Tennessee and Sands Point Police Department in New York, continuing the penetration of the Company's robust vehicle recognition software solutions throughout local law enforcement across the United States.

Rekor's software and cameras can be deployed to support law enforcement without extended installation timelines. Rekor's solutions, powered by artificial intelligence and machine learning-enabled software, can be used to collect license plate data and information such as the make, type, and color of a vehicle, without sacrificing traditional security and surveillance features of existing cameras. This provides significant enhancements in performance, as well as substantial savings compared to traditional optical character recognition license plate reading technology.

To learn more about Rekor's vehicle recognition software, please visit our website.

About Rekor Systems, Inc.

Rekor Systems, Inc. is a publicly traded company listed on Nasdaq (REKR) with headquarters in Columbia, Maryland. Rekor is focused on bringing smarter, faster, cost-competitive solutions to the worlds of public safety and customer experience. With a strong presence in over seventy countries across the world, we use the power of artificial intelligence to provide actionable, vital information for our clients. Whether it's using machine learning software to give those who protect us better tools to keep us safe, or through solutions tailored to improving the everyday lives of everyday people, Rekor has the tech, and the expertise, for the job. At Rekor, we strive to make the impossible … possible. To learn more please visit our website: https://rekorsystems.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. Other than statements of historical facts, all statements contained in this press release are forward-looking statements, including particularly statements regarding our future results of operations and financial position, business strategy, prospective products and services, timing and likelihood of success, plans and objectives of management for future operations, and future results of current and anticipated products and services. These statements involve uncertainties, such as known and unknown risks, and are dependent on other important factors that may cause our actual results, performance or achievements to be materially different from the future results, performance or achievements we express or imply. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. All forward-looking statements contained in this press release speak only as of the date on which they were made, are based on management's assumptions and estimates as of such date and are subject to a number of risks, uncertainties and assumptions, including those described under the sections in our Annual and Quarterly Reports filed with the Securities and Exchange Commission. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond our control, you should not rely on these forward-looking statements as predictions of future events. We undertake no obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events, or otherwise.

Media Contact:

Matthew Bretzius
FischTank Marketing and PR
matt@fischtankpr.com

Investor Contact:

Charles Degliomini
Rekor Systems, Inc.
ir@rekorsystems.com

SOURCE: Rekor Systems, Inc.



View source version on accesswire.com:
https://www.accesswire.com/575056/Rekors-Vehicle-Recognition-Solutions-Selected-by-City-of-Lauderhill-Fla-to-Increase-Public-Safety-for-its-70000-Residents