Columbia, MD (July 11, 2022) –Three Twenty-One is pleased to share that its client, Rekor Systems, Inc (NASDAQ: REKR) (“Rekor” or the “Company”), has completed its acquisition of Southern Traffic Services (“STS”). Three Twenty-One acted as Rekor’s exclusive buy-side advisor in this transaction.
Rekor is a global AI technology company with a mission to provide data-driven insights that build safer, smarter, and more efficient cities around the world through intelligent infrastructure. As a provider of comprehensive, continuous, and real-time roadway intelligence, Rekor leverages AI, machine learning, and holistic data to support the intelligent infrastructure that is essential for smart mobility.
Founded in 1988, STS pioneered data services contracts with departments of transportation throughout the United States. In addition to traffic data collection, STS provides traffic engineering expertise that includes design, planning, and traffic study services to U.S. government and private agencies with a strong footprint in the Southeast.
Rekor’s acquisition of STS combines over 30 years of traffic engineering and data collection expertise from STS with Rekor’s next generation artificial intelligence and machine learning technologies. The combined company is uniquely positioned to become the leading provider of artificial intelligence- and machine learning-driven solutions for traffic management, urban mobility, and public safety. “Together, Rekor and STS can now deliver the most advanced offering of AI- and machine learning-based solutions to help the public and private sectors better manage traffic, enhance urban mobility, and increase public safety,” said Robert A. Berman, Rekor CEO and Chairman. “With the passage of the Infrastructure Investment and Jobs Act of 2021, Rekor is well-positioned to take advantage of the increased demand for and investment in traffic data collection, analysis, and predictive insights.”
“By concentrating on building trust, STS has developed strong relationships with its DOT customers over the past 30 years and was one of the first to introduce AI capabilities for traffic data collection,” said Mark Knowles, STS Co-founder. “Our customers are excited about the combined capabilities of Rekor and STS to provide better, faster, and more efficient traffic data collection and analysis for the benefit of their citizens. I’m pleased to become a valued Company shareholder, and the entire STS team is looking forward to becoming an integral part of Rekor, a company that has a built a strong foundation and is poised for rapid expansion and scale.”
About Rekor Systems, Inc.
Rekor Systems, Inc. (NASDAQ:REKR) is a trusted global authority on intelligent infrastructure providing innovative solutions that drive the world to be safer, smarter, and more efficient. As a provider of comprehensive, continuous, and real-time roadway intelligence, Rekor leverages AI, machine learning, and holistic data to support the intelligent infrastructure that is essential for smart mobility. With its disruptive technology, the Company delivers integrated solutions, actionable insights, and predictions that increase roadway safety. To learn more, please visit: https://rekor.ai.
About Three Twenty-One Capital Partners
Three Twenty-One Capital Partners is headquartered in the Baltimore-Washington Metro area, with offices in Denver, CO and Los Angeles, CA. Three Twenty-One Capital Partners specializes in providing investment banking services to the lower middle market, with a concentration in family and founder-led businesses. Three Twenty-One Capital Partners’ team has completed engagements with over $15 billion in transaction value. Further information is available at www.321capital.com.