SoundThinking and Rekor Systems Announce Strategic Partnership
SoundThinking to Resell and Integrate with Rekor’s Top Rated Vehicle and License Plate Recognition (LPR) Solution
Summary: New LPR service from SoundThinking called “PlateRanger™, Powered by Rekor®” now available for demonstration and quotation.
FREMONT, Calif. and COLUMBIA, Md., July 23, 2024 (GLOBE NEWSWIRE) -- SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology company, and Rekor Systems, Inc. (Nasdaq: REKR), a leader in developing and implementing state-of-the-art roadway intelligence technology for public safety, urban mobility, and transportation management, today announced a strategic partnership to create and launch a new end-to-end public safety solution, “PlateRanger, Powered by Rekor.”
This collaboration brings together two industry leaders, combining SoundThinking's expertise in acoustic gunshot detection and investigative solutions with Rekor's best-in-class vehicle and LPR solutions. PlateRanger is now available for demonstration and quotation and is expected to be part of the SafetySmart™ platform starting in September 2024, marking SoundThinking's expansion into the growing LPR market. This market is estimated to be $3.2B globally, according to Emergen Research.
The collaboration between SoundThinking and Rekor represents a fusion of cutting-edge public safety technologies, paving the way for a new era of comprehensive roadway intelligence and law enforcement solutions. This strategic partnership, formalized through the recent inclusion of SoundThinking in the Rekor Partner Network (“RPN”), a global ecosystem of technology, data, and solution providers working together to generate the most comprehensive and innovative solutions in roadway intelligence, is expected to create powerful synergies between two industry leaders by combining SoundThinking’s extensive law enforcement customer base and brand strength with Rekor’s advanced roadway intelligence capabilities.
“We’ve been using ShotSpotter successfully for years to improve our response time to shootings and save lives, and Rekor to provide accurate and rapid vehicle and license plate recognition to identify criminal suspect vehicles,” said Patrol Captain Paul Grech of the Bridgeport, CT Police Department. “The idea of more tightly integrating these two useful and proven products is compelling and can provide even better investigative insight for our department to solve crimes, ultimately supporting our mission to protect and serve the community.”
SoundThinking’s new PlateRanger offering bundles solar power, warranty, integrations and customer service into a single subscription price, providing law enforcement agencies with a cost-effective and efficient tool to enhance their investigative capabilities.
When used in conjunction with ShotSpotter®, PlateRanger will enable streamlined investigations for gun crimes, improved operational efficiency, and real-time, actionable intelligence without the need for additional resources. When used standalone, the system delivers significant investigative value for vehicle-related crime.
“We’re thrilled to partner with Rekor Systems and this represents our commitment to bringing innovative solutions that help solve public safety challenges,” said Ralph Clark, CEO of SoundThinking. “We believe this strategic partnership is synergistic and will be a game changer, with two market leaders collaborating to bring unique value to customers. Partnering with the established industry leader in vehicle recognition and LPR helps ensure that customers receive a seamless experience and can maximize the impact of a fully integrated solution.”
David Desharnais, CEO of Rekor Systems, stated, “Our collaboration with SoundThinking significantly broadens the impact of our advanced roadway intelligence technologies for public safety. By merging our capabilities, we are developing an integrated solution poised to redefine public safety technology. We are thrilled about the innovation this alliance will deliver and its potential to profoundly benefit communities nationwide.”
Rekor’s products and technologies are established in the law enforcement sector and beyond, serving as mission-critical solutions for thousands of customers worldwide who rely on its roadway intelligence technologies. This presents significant potential opportunities for SoundThinking’s SafetySmart solutions.
Privacy policy and controls are a priority at SoundThinking, which has expanded its robust existing privacy and security policy to incorporate technology controls in the PlateRanger solution in order to protect communities.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding the creation and launch of a new public safety solution, PlateRanger, powered by Rekor, including the expected availability, capabilities and potential thereof, expected synergy resulting from the partnership between SoundThinking and Rekor, and expansion opportunities for SoundThinking’s SafetySmart solutions. Words such as “expect,” “anticipate,” “should,” “believe,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the company’s control. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to the effective use of the company’s technology and achieving its intended benefits, as well as other risk factors included in the company’s most recent annual report on Form 10-K and quarterly report on Form 10-Q and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this press release and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Except as required by law, the company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.
About SoundThinking
SoundThinking, Inc. (Nasdaq: SSTI) is a leading public safety technology company that delivers AI- and data-driven solutions for law enforcement, civic leadership, and security professionals. SoundThinking is trusted by approximately 250 customers and has worked with over 2,100 agencies to drive more efficient, effective, and equitable public safety outcomes. The company’s SafetySmart™ platform includes ShotSpotter®, the leading acoustic gunshot detection system; CrimeTracer™, the foremost law enforcement search engine; CaseBuilder™, a one-stop investigation management system; ResourceRouter™, software that directs patrol and community anti-violence resources to help maximize their impact; and SafePointe®, a next-generation concealed weapons detection system. SoundThinking has been designated a Great Place to Work® Company. Please visit www.soundthinking.com.
About Rekor Systems, Inc.
Rekor Systems, Inc., (NASDAQ: REKR) is a trusted global authority in developing and delivering roadway intelligence utilizing state-of-the-art AI and machine learning. Pioneering the implementation of digital infrastructure in our communities, Rekor is redefining infrastructure by collecting, connecting, and organizing the world's mobility data - laying the foundation for a digital-enabled operating system for the road. With our Rekor One™ Roadway Intelligence Engine at the foundation of our technology, we aggregate and transform trillions of data points into intelligence through proprietary computer vision, machine learning, and big data analytics that power our platforms and applications. Our solutions provide actionable insights that give governments and businesses a comprehensive picture of roadways while providing a collaborative environment that drives the world to be safer, greener, and more efficient. To learn more, please visit https://www.rekor.ai/.
Company Contact:
Alan Stewart, CFO
SoundThinking, Inc.
+1 (510) 794-3100
astewart@soundthinking.com
Investor Relations Contact:
Matt Glover and Greg Bradbury
Gateway Group, Inc.
+1 (949) 574-3860
SSTI@gateway-grp.com
Media & Investor Relations Contact:
Rekor Systems, Inc.
Charles Degliomini
ir@rekor.ai
Released July 23, 2024