Novume Announces Increased Focus on Technology Products and Services and Intention to Change Name and Segment Businesses
CHANTILLY, VA / ACCESSWIRE / March 29, 2019 / Novume Solutions, Inc. (NASDAQ: NVMM) announced today that its Board of Directors approved changing the company’s name to Rekor Systems, Inc. The planned name change is a result of the company’s recent acquisition of assets of OpenALPR Technology, Inc. and increased focus on technology products and services. The company recently renamed its subsidiary from Brekford Traffic Safety, Inc. to Rekor Recognition Systems, Inc. The line of hardware and software products and services offered by Rekor Recognition Systems, Inc. is powered by OpenALPR software, which uses artificial intelligence to improve the performance of automated license plate readers. The line was designed to assist law enforcement agencies in improving public safety and has commercial uses in automated parking management, electronic tolling, traffic flow management, supply chain logistics and customer loyalty. To complement the planned name change to Rekor Systems, Inc., Novume has applied to the Nasdaq Capital Market to change its trading symbol to “REKR.”
Beginning with the first quarter of 2019, the company also plans to change its operating and reportable segments from one segment to two segments. The two segments are expected to reflect that company’s focus on both technology products and services and professional services.
About Novume Solutions, Inc.
The company provides products and services to both government and private sector clients, with an emphasis on public safety, risk management and workforce solutions. For more information, please visit novume.com, or connect with us on Twitter, LinkedIn, or Facebook.
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SOURCE: Novume Solutions, Inc.