Rekor Systems' Joint Venture ROKER Acquires SecurePark Technologies for End-to-End Parking Management and Enforcement Solution
Company to Address Needs of Multi-billion-dollar Smart Parking Market
ROKER Inc., a provider of technology solutions aimed at urban space management inclusive of parking and enforcement, today announced that it has closed on a deal to acquire SecurePark Technologies of Edmonton, Alberta, Canada. Founded in 2009, SecurePark offers a software-as-a-service (SaaS) parking enforcement platform for municipalities, parking operators, airports, schools, hospitals, security and property management users. The deal was structured as an asset purchase with the seller receiving an undisclosed amount of cash and stock as consideration. It closed on July 15, 2021, and all SecurePark employees are now part of the ROKER team.
ROKER and SecurePark have been collaborating over the past year and recently won projects to implement a fully integrated parking enforcement and violation lifecycle management solution in the cities of Midland and Thorold, Ontario. Powered by blockchain and license plate recognition technology, the ROKER platform enables digital contracts for parking permits, accepts payments and provides transaction traceability for the public and private sectors. ROKER maintains CJIS compliance, an FBI standard for data security and encryption for criminal justice and law enforcement professionals, at all levels of record storage and retrieval for the government needs.
“This deal with SecurePark caps a landmark inaugural year for ROKER,” said Sachin Bedi, CEO, ROKER. “We marked the successful launch of our parking permit and violation management system, secured funding, and established solid customer traction, thanks in part to SecurePark. With the addition of the SecurePark team, intellectual property and recurring revenue stream, we now have a complete end-to-end system, along with the experienced team and resources needed to scale.”
The ROKER SaaS-based integrated parking platform enables permit management, parking enforcement, and mobile payments, and manages violations and compliance for customers such as parking operators, universities, airports, retail establishments and public parks. This cloud-first system is built on a state-of-the-art architecture that includes artificial intelligence, blockchain, and Internet of Things to empower real-time transactions.
“Over the last decade, SecurePark has built a strong customer and user base, working with leading parking operators like Precise ParkLink in Canada to implement our parking enforcement solution with municipalities, airports, shopping centers, universities, and property management firms. This has led to new opportunities with cities and businesses in the United States and Canada,” said Shane Nolan, former President of SecurePark and ROKER’s new Head of Operations. “As we worked closely with ROKER to better serve our customer’s needs, we realized that we had found the right partner to join forces with and address the growing need for modern, affordable, and simple end-to-end parking management solutions, that would allow a larger market of customers to embrace new automation tools.”
ROKER was founded in June 2020 as a venture between Rekor Systems (NASDAQ: REKR), a provider of real-time roadway, customer and public safety intelligence to enable AI-driven decisions, and Cygnet Infotech, a premier product engineering and application development services firm. Cygnet’s then CEO Sachin Bedi took the lead at ROKER as its CEO. The ROKER solution is built on the technology stacks of both founding companies.
The expanded ROKER organization is headquartered in Princeton, NJ with its second office in Edmonton, Alberta, Canada. ROKER’s product portfolio will be sold directly and through the resale channel as individual and integrated products. Customers using the company’s solutions will benefit from the ease of use of both systems, the ability to integrate with any hardware, and the automation of routine parking and enforcement tasks, which leads to revenue recovery and generation.
About Rekor Systems, Inc.
Rekor (Nasdaq: REKR) is a Maryland-based company providing real-time roadway intelligence through AI-driven decisions. Rekor provides commercial and government customers with actionable, real-time vehicle recognition data to enable informed decisions to be made faster and provide better outcomes. Rekor is transforming industries like Public Safety, Customer Experience, and Smart Cities in more than 70 countries across the globe with smarter, quicker, cost-competitive vehicle recognition solutions for security, revenue discovery and recovery, public safety, electronic toll collection, brand loyalty, parking operations, logistics, and traffic management. We use the power of artificial intelligence to analyze video streams and transform them into AI-driven decisions by our clients. Our machine learning software can turn most IP cameras into highly accurate and affordable vehicle recognition devices used to help protect lives, increase brand loyalty and enhance operations and logistics, without the need to install expensive new infrastructure. We make what was once considered impossible, possible.
About ROKER, Inc.
ROKER delivers technology solutions aimed at urban space management inclusive of parking, and enforcement, to enable higher revenue recovery for public safety institutions and the commercial market. The company creates an ecosystem for smart parking that will converge with smart city initiatives across the globe. ROKER leverages proprietary intellectual property from Rekor Systems, Inc. (NASDAQ:REKR), a Maryland- based company providing real-time roadway intelligence through AI-driven decisions, and Cygnet Infotech, a premier product engineering and application development services firm. ROKER was founded in 2020.
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