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Investing.com -- Rekor Systems Inc (NASDAQ:REKR) stock jumped 9.1% in premarket trading Thursday after the roadway intelligence technology company announced that two major state transportation departments are now using its Discover platform.
The California Department of Transportation (CalTrans) and the Texas Department of Transportation (TxDOT), two of the largest transportation agencies in the United States, have begun initial installations of Rekor Discover, potentially opening the door for wider deployment across both states.
This development follows Rekor’s recent announcement of its largest state contract with the Georgia Department of Transportation, which could generate over $100 million in total contract value. The Georgia contract validates Rekor’s Data-as-a-Service (DaaS) model that it has developed with the state over the past decade.
"Caltrans and TxDOT are two of the most influential DOTs in the country," said Mark Phillips, General Manager at Rekor. "Their experience with Rekor Discover should provide a clear path to expand, from initial deployment to statewide programs."
Rekor Discover provides agencies with traffic counts, classification, and weigh-in-motion data, along with planning, operational, and safety insights offered as a managed service. The platform’s non-intrusive approach to gathering traffic data is designed to be reliable, scalable, and compliant with federal reporting standards.
The company’s technology appears to be gaining traction among state transportation departments looking to modernize their traffic monitoring systems while improving safety for field teams and securing trusted data for planning, funding, and daily operations.
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