Under the Symbol:
Rekor Systems Selected to Provide Cloud-Based License Plate Recognition Solutions to Tire Profiles, LLC
Friday, June 21, 2019 10:05 AM
Rekor's OpenALPR CloudAPI performed with 65% greater accuracy than Tire Profile's previous vendor; leading tire and alignment laser diagnostic technology company
COLUMBIA, MD / ACCESSWIRE / June 21, 2019 / Rekor Systems, Inc. (NASDAQ: REKR) ("Rekor"), a leading provider of innovative vehicle recognition systems, announced today it has been selected by Tire Profiles, LLC to provide cloud-based license plate recognition (LPR) solutions utilizing Rekor's proprietary Cloud API product. Following a test comparing Rekor's solution with a competitive product Rekor's Cloud API solution outperformed the competitor with an astonishing 65% greater accuracy rate than the other system. As a result of the test performed Tire Profiles have renewed and extend their contract with Rekor.
"It has been great working with the team at Rekor. LPR is a critical component in our line of products; we needed a high accuracy solution across North America, South America, Europe, and the Pacific Rim," said Jeff Hislop, Chief Technology Officer, Tire Profiles. "Another major consideration for us was the fixed monthly price that allows us to continue our growth without the burden of linear expense growth. Even if we could have restructured pricing with our previous vendor, we felt there was no way they could address their product's accuracy issues to perform as well as Rekor's solution. The decision was easy."
Tire Profiles, LLC is the automotive industry's leading tire and alignment laser diagnostic technology company, serving auto dealers and tire retailers around the world. Its customers rely on the correct identification of each vehicle scanned by its TreadSpec™ and GrooveGlove™ systems, which are used to pull VIN and other vehicle data to ensure proper and efficient service to each vehicle.
"We're proud to extend our successful relationship with Tire Profiles, and to continue providing industry-leading LPR solutions that enable our customers to provide better service, increase revenues, and build customer loyalty," said Rod Hillman, Chief Operating Officer of Rekor. "Not only has our solution proven to be more accurate than others on the market, it's also more cost efficient and it is accessible via online subscription, thus allowing our customers to scale as needed without significant capital expense. This combination is a game-changer for the industry and one that will allow our continued market penetration and growth."
Rekor's OpenALPR CloudAPI is another of its innovative technology solutions addressing the customer experience market, focused on providing services to consumers that are convenient and efficient and drive loyalty. The Company also recently released its NUMERUS™ solution for the electronic tolling industry, empowering accurate toll collection without inconveniencing drivers.
To learn more about Rekor's OpenALPR CloudAPI, please visit our web site.
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 images and transform them into extract 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.
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.
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Rekor Systems, Inc.
SOURCE: Rekor Systems, Inc.