ROKER acquires SecurePark Tech – GuruFocus.com
PRINCETON, NJ and EDMONTON, Alta., July 20, 2021 (GLOBE NEWSWIRE) – ROKER Inc., a provider of technology solutions for urban space management, including parking and enforcement, today announced entering into an agreement to acquire SecurePark Technologies of Edmonton, Alberta, Canada. Founded in 2009, SecurePark offers a software-as-a-service (SaaS) parking law enforcement platform for municipalities, parking operators, airports, schools, hospitals, users security and property management. The deal was structured as an asset purchase, with the seller receiving an undisclosed amount of cash and shares in return. It closed on July 15, 2021 and all SecurePark employees are now part of the ROKER team.
ROKER and SecurePark have worked together over the past year and recently won projects to implement a fully integrated law enforcement and offense lifecycle management solution in the towns of Midland and Thorold, in Ontario. Powered by blockchain and license plate recognition technology, the ROKER platform enables digital contracts for parking permits, accepts payments and provides transaction traceability for the public and private sectors. ROKER maintains CJIS compliance, an FBI standard for data security and encryption for criminal justice and law enforcement professionals, at all levels of record storage and retrieval for government purposes .
“This agreement with SecurePark marks a milestone inaugural year for ROKER,” said Sachin Bedi, CEO of ROKER. “We marked the successful launch of our parking permit and violation management system, secured funding and established strong customer traction, in part through SecurePark. With the addition of the SecurePark team, intellectual property and recurring revenue streams, we now have a complete end-to-end system, along with the experienced team and resources to scale.
ROKER SaaS Integrated Parking Platform enables permit management, parking enforcement and mobile payments, and manages violations and compliance for customers such as parking operators, universities, airports, businesses retail and public parks. This cloud-based system is based on a cutting-edge architecture that includes artificial intelligence, blockchain and the Internet of Things to enable real-time transactions.
“Over the past decade, SecurePark has built a strong customer and user base, working with leading parking operators like Precise ParkLink in Canada to implement our parking control solution with municipalities, airports , shopping centers, universities and property management companies. This has led to new opportunities with cities and businesses in the United States and Canada, ”said Shane Nolan, former president of SecurePark and new COO of ROKER. “By working closely with ROKER to better meet the needs of our customers, we realized that we had found the right partner with which to join forces and meet the growing need for modern, affordable end-to-end parking management solutions. and simple, which will enable a larger customer market to adopt new automation tools.
ROKER was founded in June 2020 as a business between Rekor Systems (REKR), a provider of real-time road, customer and public safety intelligence to enable AI-driven decisions, and Cygnet Infotech, a leading product engineering and application development services company. Cygnet CEO Sachin Bedi has taken over the leadership of ROKER as CEO. The ROKER solution is built on the technological stacks of the two founding companies.
The extended ROKER organization is headquartered in Princeton, NJ with its second office in Edmonton, Alberta, Canada. ROKER’s product portfolio will be sold directly and through the resale channel as individual and integrated products. Customers using the company’s solutions will benefit from the ease of use of both systems, the ability to integrate with any hardware, and the automation of routine parking and runtime tasks, which helps to recover and generate income.
About ROKER, Inc.
ROKER provides technological solutions aimed at urban space management, including parking and enforcement, to enable better revenue recovery for public safety institutions and the commercial market. The company is creating an ecosystem for smart parking that will converge with smart city initiatives around the world. ROKER exploits the exclusive intellectual property of Rekor Systems, Inc. (REKR, Financial), a Maryland-based company providing real-time traffic information through AI-driven decisions, and Cygnet Infotech, a leading product engineering and application development services company. ROKER was founded in 2020.