OpenALPR Acquired By Mysterious Novume

Author: Dan Gelinas, Published on Mar 13, 2019

Startup OpenALPR has been acquired by Novume, a company virtually unknown in the industry.

While there are many LPR providers (see our directory), OpenALPR is best known for its open source option + cloud LPR service.

In this note, based on our talks with Novume CEO Robert Berman and OpenALPR Founder and Developer Matt Hill, we look at the following:

  • Terms of the deal
  • Pricing
  • Go-to-market strategy
  • Who Novume is and what they are trying to do
  • Novume stock
  • Novume revenue
  • OpenALPR revenue
  • Future intentions

******* *********** **** ******** ** ******, * ******* ********* ******* ** *** ********.

***** ***** *** ******* ********* (*** *** *********), ******** ** **** ***** *** *** **** ****** ****** + ***** *** *******.

** **** ****, ***** ** *** ***** ******************* ************************ *** ************* ****, ** **** ** *** *********:

  • ***** ** *** ****
  • *******
  • **-**-****** ********
  • *** ****** ** *** **** **** *** ****** ** **
  • ****** *****
  • ****** *******
  • ******** *******
  • ****** **********

[***************]

Terms ** *** ****

********-***** *************** *** **** ** ***** ******* ~$** ******* ********* ** * ******** ****** **** *** ***, **** *** ***** ******* ****** ****** ******** "********** ******* capital":

** ******* *** *********** *** ******* ********** ******* *******, ****** issued $** ******* ** ****** ******* ********** ***** ** * consortium ** ******* *******.

*** **** ******** * *********** ** ****, *****, *** *****, according ** ******* ***** ** *** *******.

************, **** **** **** ***** ********** **** **** ** ****** as *** *******'* *** ***** ******* ******* ***** ** ***** help ****** ********** ** * ******-****** ********** *******, *** ******* explained ** **** ****:

*** ** **, *** **** *** * **** ************* ** how ** **** ***** ************ ****. ** **** ** *** technology ** **** *** ******** ******. **** **** **** **** that ********** ** * ****** ****** ********** *******.

OpenALPR *******

** ******** ********'* ******* ** ** *** *** ** *** single ***** ********, ****** *** ******* ******** ** *******. ******* close ** *** ******* **** *** ******* *** ******* *** profitable, ***** ** ********** ***** ***** ***** **** (***** ** employees). *** ************ *** ******* "********’* ******* ***** *********** (“***”) coverage *** ********* ** **** *,*** *******". *******, *** *** of ***** ******* *** ** ***** **** ** ******* *** they ***** **** **** ** $** *** ***** ** * one **** $*** *******.

************ ***** ********** * **** ****.

*******

***** ****** **** ***** **** ****** ***** ** ****** ********* tiers, **** ***** *** ********* ** ********* ** *********, *** provide * *********.

******** ********* *** * *** ********* *****—**-******* ****,***** ******,***** ***, ********** ***** ******. ****** ***** **** * *******-******* **** ******* ** $**/******/***** to $*** *** ***** *** *** ***** *** ********** ********.

Go-to-market ********

******** *** ************* **** ********* ** *** ***** ******** *** the******** *******. ****** **** ***** **** ** ***** ** ****** *** model ** **** ****.

About ******

****** ** * ******** ****** ******* ******* **** *** **** acquiring / ******* ** ******* ******-****** ******* ********* **** *** past *** *****. *** ******* **** **** **** *** ********* and ********* *** * ***** *********, *********:

  • ********* ******* ******, * ******** ** ********* ******* ****** *********** *********, ******* enforcement ******** ***********, *** ****** ********** ********* ********* *** ****** safety ********.
  • ****** ****** ******, * ******** *** ********** ** ****** ****** ******* ********** solutions ** **************, *** ** ********, *** ***** ******* *** public ********.
  • *** *** *********, * ********** **** ******* ******** ***********, ******* ********, *** market ********** ******** *** ******* ******** *** ********** *********.
  • ********* *********, * ****** ********** ********** ****.
  • ****** ********* ********, * ********* ******** ******* **** ******** *********** ******* ** the *** *** ********* ********.
  • ****** ******** *************, * ******** ****** **** ****** ********* ************* *** *********** and *********** **********

******** **** **** **** ********* ***, *** ********'* **** **** he **** ******* ***********:

*** ** ***** ************ ** *********. **** ***** * ****** of ********* ********. **** **** ***** **** ********** ****’** ****** *** **. ** ******** **** **** ****. Seeing ***** ************. * *** *** ********* *** **** *******. Plus ******'* ******* *** *** ***** *********** *******, ** ***** connections **** **** ** ***** ** ** ****.

Risky ********

****** **** **** *****. *** ******* *** * ****** ************** of **** ~$** ******* *** *** *** ***** ****** ** less **** $* *** *****, ******* *********** ***** ***** *** acquisition ************.

***** ****** ************** ****** ** **** **** ** ~$*** ******* USD, ****** ** **** **** **** **% ***** ****.

Financials **** ******

******* ******* ** **** ****** *** *** ****** *** ** 2018 **********. *******, ********* ** ******, ***** ******* *** ** **** *** ~$** ******* *** 2018 **** * *** **** ** ~**% ** *** ******* below *****:

*** ***** ***** ******** *** ******* *** ****** *** *********' concerns ***** *** ********* ** ******* ***** ********** ***********.

Future **********

****** **** **** ***** *******, *** ******* ***** ***** ** growing *** ******** *** ******* ** *** ******** ********. **** said **** *** ***** ******* ******* **** ***** ********* * number ** ******** **** *** *** ** ********** ** ******* the ******** ******** *** ***** **** ****** ** **** *** projects:

**** **** ** ****** *** **** * *** ******* ** the ******** ** *** ******, ****** ** ***'* **** * definite ********* ** ****. **** **** **** *********** ************.

*******

** ** **** *** ** ** ***** * ***** *******. While ******** **** ** * ******* ***** *** ***** * different ******** ** **** *** *********, ****** ** ********* ** a *********** *** ***** ******** ****** *** ** ***** *********.

Comments (15)

Undisclosed #1

03/13/19 06:20pm

******** ** **** ** ****. ***** *** *** ******* *********** in ***** ** ****, **** ** ******* *** ** *** more ********** ************ **** ** ***** ** **** ** *** company *** ****** *********** ******** ** *** *********** *****.

Undisclosed Manufacturer #2

03/13/19 06:34pm

******** **** **** *** ***** *****, ***** **** *********** *** business ******* *** ** * ***** ****!

Avatar

Steve Lewis

03/13/19 06:42pm

***** *** **#*.

Avatar

Matthew Del Salto

BLACKBOX USA | 03/14/19 02:36pm

********* **** **** *** *** ******** ****. * **** *** cloud *** ***** ** ***** ** ** ******* *** **** of *** ************ ** **.

Undisclosed #3

03/17/19 12:21am

"LPR ** **, and Matt has a deep understanding of how to make these technologies work."

* ***'* **** ****.

*** * **** **** ***is *** AI... so I'm not sure how that comment means anything.

Undisclosed #4

In reply to Undisclosed #3 | 03/17/19 02:33am

******** ******** ** ********** ******

* ** ************ ** ***** **** *** ********* *******’* **** is ****** “******”, *** “****************”, ***** *** ** *** ****** :)

Undisclosed Manufacturer #5

In reply to Undisclosed #3 | 03/17/19 03:37am

* ***** **** ** ******** ** * ************* *****. ***** traditional *** ** **** *** ** ** *****, **** ***’* really **.

*******, ** *** ****** ** ****** ********* ** “*****” **** is * *****, **** ****** ** ****** ******* ***********, **** that ***** ** **.

******* *** ** ** ******* ****** *** ****** *******. ** the **, ***** *** ****** **** **** *******, ***** ******* and ****.

Undisclosed #3

In reply to Undisclosed Manufacturer #5 | 03/17/19 03:49am

"*******, ** *** ****** ** ****** ********* ** “*****” **** is * *****"

*** *** ***** **** * *** ********* ** *** ***** simple *** - *** *** **....

*** *** ******* *** ** ***** ** **** ** '*****' what * ***** ** - **** ********* *** ************ *************** of * ***** ****** '*******' *** ******** *** ** ****** needs ** ****?

Undisclosed #4

In reply to Undisclosed #3 | 03/17/19 05:56am

*** *** ******* *** ** ***** ** **** ** '*****' what * ***** ** - **** ********* *** ************ *************** of * ***** ****** '*******' *** ******** *** ** ****** needs ** ****?

****** ******** (******* ********/***** *****) *** (** ****** **) ****** than ****-***** *** **** ********.

**, (****** ** **** ****) *****’* ******, *******’* ***** *** have ****** *** ** ****. *** ** ** ****’* *** machine ******** ******* ****** ** ******** ****, ****’* ** ****** today.

*** ***’* (*********) **** ** **** * ********* (*****) ***** like ***** ** ****. *** **** ** * *****, ** takes * *****, *** *** *****, ** **** ** *** answer **** **’* *****.

***** ** *** ** ***, ** **** ***** ***** ******* to ******* ******** *************, *****, ***** ********** ** **** ******, leaves *** **** * ****** *******. ** **** **** **** neural ******* ** ********** ** **** ****** ******** “*******” ***** on *** *********** ******.

*** ****** ******* *** ******** ** ***** **** ********** ********, although *** ****** ** *** ****** ** ********* *** ***** than *** ******* ********. *** ** *** **** **** **** a ****** *** *** ******** ***********.

Undisclosed #3

In reply to Undisclosed #4 | 03/17/19 06:47am

**** *********** ** **** * ****** ******* ** *** *** it *****... * ***** ******** ***** ** ********** *** ************ of *** **** **** *** **** **** *** **.

*** **** *** *** ** *** ***** *****-***** ******** *** cases *** *** - ********* ******* *** *** ** ******* plates ** ****** ************.

*.*. ***** *** **** ** **** ****** *** ********** *** already ***** - **** ****** **** ***** *** ****** ** some ******. ** *** * **** *** *** *** ********** of *** *** - *** ** ****** **** **** (**** certain ********, *** *** ********** **************) *** ********* ** **** well *****.

** ** **** ***-***** ************ ********* ****** ******* ******* - and ***** ** **** ****** **** *******, **** *** **** AI/neural ******** ******* ********** *****?

*'* *** ****** ** *** ** *****.... *'* ****** ********* how ** ******** **** - ***** ******* ***** ****** ****.

Undisclosed #4

In reply to Undisclosed #3 | 03/17/19 07:05am

***** **’* *** **** **** ******, ***** **** **** *******, good ***** *** ******* ** ***, *** *** *** **** results.

****** ***** ** **** *** *** **** **** **** ****-*** gear ** ******* *** ****. **** *********** ****.

Undisclosed Manufacturer #5

In reply to Undisclosed #3 | 03/17/19 03:00pm

***** ** ***** ********* ****** *** ********* *** ****. ** the ** ***** *** ** ****** *** ***** * ******** variations ** ******, **** ****** *** ******* ** ****** *** state. *** ****** ****** ********. * *** *** ***** ** or “******** ********” ***** ** ****** *** ** *** ********** information ** “***** ******” ***** ** *****, ** ***** ***** it *** ****** **.

Undisclosed #3

In reply to Undisclosed Manufacturer #5 | 03/17/19 04:30pm

"** *** ** ***** *** ** ****** *** ***** * thousand ********** ** ******, **** ****** *** ******* ** ****** any *****. *** ****** ****** ********."

***** **** ***** ** *** ** *** *** *** ****** (and **** ****** **** ******* ********* *****/******, ***) -***** ******* ********* ** ***** ************ ** **** *****.

******* **** *** '****' *** *** ******** ***** ******* ****** - *** *** ********** ** **** - ****** ** ******** this **** **** * ********.

*.*. **** ** '******' ** **** ***** *** *** ** need *** ** - ***** **** ***** **** ************ *************** of ***** **** *** ********* ****/****/*******, ***.

"**** ** *****' ** * ******** ******* ****** **** *** been ** ***** *** **** ***** ** *** *********/******** ** numerous ** ******.

* *** ****** *** **** *** ** ***** ******* *** paying ***** **** ***** (*********** **** ***).😏

Undisclosed #6

In reply to Undisclosed #3 | 03/18/19 03:29pm

** ** * ***** ****. ** ***** **** **** **** accurate ** *****... *** *** ******* *********** ** ** *********** of ** ** ***** "******* ******** (**)" ** "**** ********" is * ******. ******** **** ******* ******** ** ********* ******* plates ** ****** ** *********/******* *** ******* ****, *****, *****, body ****, ***. **** ** ********* ** **** ***** ****** are ******** ** ****** *** **** ***** **** *** ******** is *** **** * *********** ****** ******* ** **** *** algorithm '******' **** *** **** *****. **** ** *** ******* process *** **** ******* ***** *********. ******* *** ********* *** learning ** ********** *** **** ** *** ****, ****** **** is **** ** *** ****** / *****.

Undisclosed End User #7

03/19/19 04:30pm

******** & **** ******* ** *** ******** **** & *** leaders. **** * ********* *** ***** ********. ******** ******** *******, keep *** **** **** **. **** ******* ** *** ****** release.

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