Rekor Selected by ParkSmart to Deploy Cutting Edge Parking Management Solutions in Canada

Leading parking management company signs five-year licensing agreement to replace multiple vendors with Rekor's one-stop parking solution; first deployment will be within the City of Ottawa

Rekor Systems, Inc. (REKR) ("Rekor"), a Nasdaq company focused on bringing smarter, faster, cost-competitive solutions to the worlds of public safety and customer experience, announced today it has signed a five-year licensing agreement with ParkSmart, Inc. ("Parksmart") for its cutting edge iP360 Parking Ticket & Permit Management Software Suite.

ParkSmart, a subsidiary of Coinamatic Canada, will first deploy the iP360 system within the City of Ottawa, enabling the city to manage and track parking tickets throughout the ticket lifecycle. Built using cutting edge Microsoft technology, iP360 creates seamless and efficient processes for registered owner information management, adjudication management, payment integration, letter creation, and reporting. It also comes with a permit management module and can be integrated within a city's handheld enforcement devices.

"We are excited to partner with Rekor and to offer their innovative iP360 parking and permit management solutions to our customers. Rekor's solutions are robust and scalable, making it easy for us to set up new clients or adjust service offerings as needed," said Craig Peters, General Manager, ParkSmart. "Its compatibility with multiple handheld enforcement devices, along with its all-encompassing feature-set that allowed us to replace extraneous vendor expense, makes Rekor's iP360 the go-to option in parking violation software."

As a web-based application, iP360 can be hosted anywhere in the cloud or on-premises. Upon successful deployment within the City of Ottawa, ParkSmart plans to deploy iP360 to its other clients, with Rekor receiving additional licensing fees for clients added.

"We are proud to partner with a leading provider of parking solutions throughout Canada, and to continue penetration of our innovative software solutions into the parking management market," said Robert A. Berman, President and CEO, Rekor. "This agreement with ParkSmart will serve as a flagship opportunity to showcase the robust feature set of our platform, demonstrating its capability to provide a comprehensive parking management system without the complications and cost of multiple vendors. We look forward to working with ParkSmart and to the deployment of our solutions to its entire client roster."

The combination of Rekor's vehicle recognition systems with its iP360 platform creates a complete and scalable parking management solution. The system, powered by OpenALPR's state-of-the-art AI-based software, allows additional capabilities such as gate access and fixed and portable camera monitoring using whitelist features. Data captured by the system can be used to create strategies to optimize parking management and enforcement, with more efficient oversight of residential, employee, and visitor parking. The powerful, dynamic platform can be used where any type of approved permits are valid. Customers have several permit management options including applying for a new permit for property including office building garages/lots, municipal garages/lots, convention centers, hotels, or multi-purpose developments.