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8-K - CURRENT REPORT - Rekor Systems, Inc. | a8kopenalprmsa.htm |
Exhibit
99.1
Novume and OpenALPR Enter into Management Services
Agreement
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.
Forward-Looking Statements
This press release includes statements concerning Novume Solutions,
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.
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
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