Rekor Systems secures multi-year contract with Georgia DOT

Core Insights - Rekor Systems (REKR) has secured its largest statewide contract to date with the Georgia Department of Transportation (GDOT), marking a significant milestone for the company [1] - The contract focuses on the deployment of Rekor Discover and Data-as-a-Service, enhancing GDOT's traffic data collection and utilization efforts [1] - The agreement has the potential to generate over $50 million in additional revenue, potentially increasing the total contract value to more than $100 million over its duration [1] Summary by Categories Contract Details - The contract is a multi-year agreement that can extend up to seven years at GDOT's discretion [1] - It allows for cooperative use by various Georgia municipalities without requiring separate competitive bids [1] Financial Impact - The projected revenue from the contract is over $50 million, with the possibility of exceeding $100 million in total value [1] Technological Advancements - The contract aims to modernize traffic data collection, validation, and utilization, promoting a smarter and safer approach to roadway monitoring [1]