Novume builds AI portfolio with OpenALPR buy
By
Nick Wakeman
Novume Solutions has acquired OpenALPR Technology to add more AI capabilities into the portfolio.
Novume Solutions has acquired OpenALPR Technology to more artificial intelligence capabilities to its portfolio.
Novume is a holding company with variety of subsidiaries in its stable. Including AOC Key Solutions, some of them provide capture and proposal management services to government contractors.
Other divisions provide solutions more directly to the government such as Firestorm Solutions and its offerings around decision support such as Global Public Safety and Brekford Traffic Safety offer transportation and public safety vehicle solutions.
OpenALPR falls more in line with the public safety niche with its solutions around AI-powered vehicle recognition software. Its software provides video analysis and data analytics services, and they offer international support.
Vehicle recognition is expected to be a $4.25 billion market by 2023, according to market research firm Wise Guy Reports.
OpenAPLR Founder Matt Hill will continue to lead the company.
Terms of the acquisition were not disclosed.