Sat, 23 Nov 2019

Leading parking management company signs five-year licensing agreement to replace multiple vendors with Rekor's one-stop parking solution; first deployment will be within the City of Ottawa

COLUMBIA, MD / ACCESSWIRE / November 4, 2019 / Rekor Systems, Inc. (NASDAQ:REKR) ('Rekor'), a Nasdaq company focused on bringing smarter, faster, cost-competitive solutions to the worlds of public safety and customer experience, announced today it has signed a five-year licensing agreement with ParkSmart, Inc. ('Parksmart') for its cutting edge iP360 Parking Ticket & Permit Management Software Suite.

ParkSmart, a subsidiary of Coinamatic Canada, will first deploy the iP360 system within the City of Ottawa, enabling the city to manage and track parking tickets throughout the ticket lifecycle. Built using cutting edge Microsoft technology, iP360 creates seamless and efficient processes for registered owner information management, adjudication management, payment integration, letter creation, and reporting. It also comes with a permit management module and can be integrated within a city's handheld enforcement devices.

'We are excited to partner with Rekor and to offer their innovative iP360 parking and permit management solutions to our customers. Rekor's solutions are robust and scalable, making it easy for us to set up new clients or adjust service offerings as needed,' said Craig Peters, General Manager, ParkSmart. 'Its compatibility with multiple handheld enforcement devices, along with its all-encompassing feature-set that allowed us to replace extraneous vendor expense, makes Rekor's iP360 the go-to option in parking violation software.'

As a web-based application, iP360 can be hosted anywhere in the cloud or on-premises. Upon successful deployment within the City of Ottawa, ParkSmart plans to deploy iP360 to its other clients, with Rekor receiving additional licensing fees for clients added.

'We are proud to partner with a leading provider of parking solutions throughout Canada, and to continue penetration of our innovative software solutions into the parking management market,' said Robert A. Berman, President and CEO, Rekor. 'This agreement with ParkSmart will serve as a flagship opportunity to showcase the robust feature set of our platform, demonstrating its capability to provide a comprehensive parking management system without the complications and cost of multiple vendors. We look forward to working with ParkSmart and to the deployment of our solutions to its entire client roster.'

The combination of Rekor's vehicle recognition systems with its iP360 platform creates a complete and scalable parking management solution. The system, powered by OpenALPR's state-of-the-art AI-based software, allows additional capabilities such as gate access and fixed and portable camera monitoring using whitelist features. Data captured by the system can be used to create strategies to optimize parking management and enforcement, with more efficient oversight of residential, employee, and visitor parking. The powerful, dynamic platform can be used where any type of approved permits are valid. Customers have several permit management options including applying for a new permit for property including office building garages/lots, municipal garages/lots, convention centers, hotels, or multi-purpose developments.

To learn more about Rekor's parking management systems, 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/565028/Rekor-Selected-by-ParkSmart-to-Deploy-Cutting-Edge-Parking-Management-Solutions-in-Canada

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