Rekor Systems Selected by Nokia to Provide Automatic License Plate Reader Software as Part of Nokia’s Analytics Solutions

Date : 06/26/2019 @ 12:00PM
Source : GlobeNewswire Inc.
Stock : Nokia Corp (NOK)
Quote : 3.52  -0.01 (-0.28%) @ 4:41PM

Rekor Systems Selected by Nokia to Provide Automatic License Plate Reader Software as Part of Nokia’s Analytics Solutions

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Rekor Systems, Inc. (NASDAQ: REKR) ("Rekor"), a leading provider of innovative vehicle recognition systems, announced today it has been selected by Nokia (NYSE: NOK) to provide automatic license plate reader (ALPR) solutions. Rekor’s solutions, powered by artificial intelligence-based OpenALPR software, will be offered to Nokia’s worldwide customer-base for use within Nokia smart city offerings.

“We’re proud to be selected by a global leader like Nokia to provide our industry-leading ALPR solutions to Nokia, and to partner with a company that is at the forefront of smart cities and IoT technology,” said Robert A. Berman, President and CEO of Rekor. “Our ALPR solution, powered by OpenALPR, is an ideal addition to the Nokia smart city offerings, as our technology is super scalable and has multiple applications within law enforcement, traffic monitoring, public/private security, transportation, logistics, and more. We’re excited for the opportunity to work with a market leader and for the exposure to their vast global clientele searching for a leading ALPR solution like ours.”

Nokia has applications that help utilities, transportation, logistics, and other public and private entities analyze real-time video streams for site surveillance, inspection, public safety, and more. Nokia utilizes machine learning across a network of connected cameras to track video analytics that detect anomalous behavior across video frames. It captures suspect issues on video and feeds it to human operators, enabling a fast and efficient detection of real problems.

“Rekor’s ALPR solution is a natural fit for Nokia due to its power, accuracy, and scalability. Rekor’s high accuracy solution outperforms traditional ALPR technology and is ideal for conditions present in live city environments. We’re excited to offer such an innovative solution to our customers,” said Amit Shah, VP of Enterprise Analytics and IoT, Nokia.

Rekor’s OpenALPR software enables automatic license plate and vehicle recognition through virtually any IP camera. Its industry-leading artificial intelligence-based solutions can be hosted locally or in the cloud. Combined with its robust and growing license plate database covering 60 countries, OpenALPR software can identify in real time vehicle license plate data, color, make, model and body type. Outside of law enforcement, it can be utilized for public safety initiatives such as traffic tolling, car counting, parking security, and more. Nokia develops and delivers the industry's only end-to-end portfolio of network equipment, software, services and licensing that is available globally. Its customers include communications service providers and enterprises in the private and public sector. It’s IoT software customers rely on Nokia’s applications to help them reduce cost and risk, increase capital efficiency, pinpoint theft, spoilage, and shrinkage, lower frequency and duration of service outages, personalize customer service, and more. Nokia has done business in more than 130 countries.

To learn more about Rekor’s OpenALPR software, please visit our website.

About Rekor Systems, Inc.

Rekor Systems, Inc., a Nasdaq-listed (REKR) Delaware company, is the parent of Maryland-based Rekor Recognition Systems, Inc. Our smarter, faster, cost-competitive solutions are disrupting major industries in over 60 countries across the globe, including security and surveillance, public safety, electronic toll collection, brand loyalty, parking operations, banking and insurance, logistics, and traffic management. We use the power of artificial intelligence to analyze video streams and transform them into actionable information for our clients. Our machine learning enabled software can turn most IP cameras into highly accurate and affordable vehicle recognition devices. Rekor provides advanced vehicle recognition systems, powered by its innovative OpenALPR software, which dramatically improves the accuracy of license plate reads and can also identify the make, model and color of vehicles. Rekor's solutions include mobile and fixed license plate readers, "Move Over" law enforcement, school bus stop-arm enforcement, and red light and speed enforcement, parking enforcement and citation management. Rekor’s solutions help to protect lives, increase brand loyalty, and manage complex supply chain logistics. Our systems can dramatically reduce the cost of collecting tolls on major highways or manage congestion in the bumper-to-bumper traffic of large cities, without the need to install expensive new infrastructure. We make what was once considered impossible, possible. To learn more please visit our website: https://rekorsystems.com.

Forward-Looking Statements

This press release includes statements concerning Rekor Systems, Inc. and its future expectations, plans and prospects that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the impact of Rekor's core suite of AI-powered technology and the size of the market for global ALPR systems. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," by the negative of these terms or by other similar expressions. You are cautioned that such statements are subject to many risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual circumstances, events or results may differ materially from those projected in the forward-looking statements, particularly as a result of various risks and other factors identified in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any 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 

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