Under the Symbol:
Novume and OpenALPR Enter into Management Services Agreement
Thursday, October 11, 2018 8:30 AM
Novume Infrastructure to Support OpenALPR's Rapid Growth
CHANTILLY, VA / ACCESSWIRE / October 11, 2018 / Novume Solutions, Inc. (NASDAQ: NVMM), a holding company that integrates technology and human capital to solve client challenges in today's complex world, announced that effective October 10, 2018, Novume and OpenALPR Technology, Inc. (OpenALPR) entered into a management services agreement (MSA) whereby Novume will provide services to support the continued growth of OpenALPR's platform. These services include sales, call center and customer support, engineering, marketing and website services along with business strategy, contract and other back office functions. The MSA provides for Novume to receive compensation on a time and materials basis for most services and a commission basis for sales of OpenALPR products.
OpenALPR's software is currently running on thousands of cameras in multiple countries supporting hundreds of clients. The ease of converting almost any IP camera to a license plate reader with a simple software upload has disrupted an industry where solutions were traditionally complex and hardware-based. The services provided by Novume will help support the continued growth of OpenALPR's licensing operations.
"Novume's subsidiaries are uniquely positioned to help accelerate OpenALPR's remarkable growth in the near term as Novume works to complete its previously announced intent to acquire OpenALPR," said Robert Berman, Novume's CEO.
"OpenALPR is receiving dozens of inbound sales leads daily, and with Novume's support we will be better positioned to respond to potential clients in the growing ALPR market," said Matt Hill, OpenALPR's founder and CEO. "We are looking forward to having additional engineering and integration support from Novume's team."
"Matt Hill has disrupted a very large industry with a brilliant application of artificial intelligence and deep learning woven into a simple software solution. Novume's infrastructure and operational support will allow Matt to focus on the continued development of applications for OpenALPR's platform, where his talents are best directed," said Riaz Latifullah, Novume's EVP of Corporate Development.
About Novume Solutions, Inc.
Novume provides products and services to both government and private sector clients, with an emphasis on public safety, risk management and workforce solutions. We are a holding company that integrates technology and human capital to solve complex client challenges in today's world. We provide Solutions for a New Generation. For more information, please visit novume.com, or connect with us on Twitter, LinkedIn, or Facebook.
About OpenALPR Technology, Inc.
OpenALPR builds software that 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's software can identify in real time vehicle license plate data, color, make, model and body type.
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SOURCE: Novume Solutions, Inc.