Rekor Finalizes Sale of Non-Core Company Device

COLUMBIA, MD / ACCESSWIRE / December 8, 2022 / Rekor Devices, Inc. (NASDAQ:REKR) (“Rekor” or the “Organization”), a global AI technological innovation firm with a mission to deliver insights that establish safer, smarter, and greener cities via intelligent infrastructure, announced now the closing of the sale of the Company’s Automated Targeted traffic Basic safety Enforcement (“ATSE”) enterprise to Altumint, an field-top company of automated visitors legislation enforcement, website traffic monitoring, and forensic investigations. The sale is the outcome of the Firm’s previously introduced strategic shift towards prioritizing its main facts companies firms.”Rekor has developed into a facts service firm, and the sale of our legacy ATSE enterprise device is yet another milestone toward our transformation into a larger margin technology and software program-dependent enterprise with our marketplace-major remedies at the forefront of our choices,” explained Robert A. Berman, President, and CEO, Rekor. “We will go on to assess chances to divest our non-core assets and improve shareholder price while remaining an innovator inside of the intelligent infrastructure business, which is at the epicenter of converging technological innovation, societal, and financial forces driving disruption in the current market.””Our choice to divest our ATSE company device demonstrates our disciplined technique to assessing and focusing our resources on strategic expansion in roadway details providers, in which we are an advantaged participant,” stated Eyal Hen, CFO, Rekor. “We think the Business is on a good route in the direction of increasing recurring earnings as our technological know-how aggregates, transforms, and analyzes details from numerous resources and provides actionable roadway insights as a company.”About Rekor Programs, Inc.Rekor Systems, Inc. (NASDAQ:REKR) is a reliable global authority on intelligent infrastructure delivering impressive solutions that drive the environment to be safer, smarter, and greener. As a service provider of thorough, continual, and serious-time roadway intelligence, Rekor leverages AI, device mastering, and holistic information to assist the intelligent infrastructure that is critical for good mobility. With its disruptive engineering, the Corporation provides built-in alternatives, actionable insights, and predictions that boost roadway basic safety. To study a lot more, make sure you check out our web-site: https://rekor.ai, and adhere to Rekor on social media on LinkedIn, Twitter, and Fb.Ahead-Searching StatementsThis push release and its backlinks and attachments comprise statements relating to Rekor Programs, Inc. and its future expectations, options, and prospective customers that constitute “forward-on the lookout statements” within just the indicating of Portion 27A of the Securities Act of 1933, as amended, and Portion 21E of the Securities Trade Act of 1934, as amended, such as statements regarding the impression of Rekor’s main suite of AI-powered technologies and the size and form of the world sector for ALPR methods. These kinds of ahead-searching statements are built pursuant to the safe harbor provisions of the Non-public Securities Litigation Reform Act of 1995. For this reason, any statements that are not statements of historical actuality may well be deemed to be forward-hunting statements. In some cases, you can recognize ahead-seeking statements by terms these kinds of as”could,” “ought to,” “expects,” “ideas,” “anticipates,” “could,” “intends,” “target,” “tasks,” “contemplates,” “believes,” “estimates,” “predicts,” “likely,” or “continue,” by the negative of these phrases or by other identical expressions. You are cautioned that such statements are issue to many pitfalls and uncertainties that could lead to long run instances, activities, or success to vary materially from those projected in the ahead-searching statements, which include the dangers that actual conditions, functions or outcomes might differ materially from those people projected in the ahead-looking statements, particularly as a consequence of several threats and other components determined in our filings with the Securities and Exchange Commission. All forward-wanting statements contained in this press launch speak only as of the date on which they had been manufactured and are centered on management’s assumptions and estimates as of this sort of date. We do not undertake any obligation to publicly update any ahead-looking statements, irrespective of whether as a result of the receipt of new details, the incidence of foreseeable future events, or or else.Media & Trader Relations Get in touch with:Rekor Techniques, Inc.Charles Degliominiir@rekorsystems.comSOURCE: Rekor Systems, Inc.See source model on accesswire.com: https://www.accesswire.com/730752/Rekor-Finalizes-Sale-of-Non-Core-Business enterprise-Unit

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