- Rekor Systems ( NASDAQ: REKR ) announced the closing of the sale of the Company's Automated Traffic Safety Enforcement (ATSE) business to Altumint, an industry-leading provider of automated traffic law enforcement, traffic monitoring, and forensic investigations.
- The sale is the result of the company's previously announced strategic shift towards prioritizing its core data services businesses.
-
"Our decision to divest our ATSE business unit demonstrates our disciplined approach to evaluating and focusing our resources on strategic growth in roadway data services, where we are an advantaged player. We believe the Company is on a solid path towards increasing recurring revenue as our technology aggregates, transforms, and analyzes data from multiple sources and delivers actionable roadway insights as a service." said Eyal Hen, CFO, Rekor.
-
Shares are trading up 4.99% premarket.
For further details see:
Rekor gains on finalizing sale of non-core business unit