OpenALPR Acquired By Mysterious Novume

By: 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

******* *********** **** ******** ** Novume, * ******* ********* unknown ** *** ********.

***** ***** *** ******* ********* (*** *** directory), ******** ** **** known *** *** **** source ****** + ***** LPR *******.

** **** ****, ***** on *** ***** ******************* ************************ *** ************* ****, ** **** ** the *********:

  • ***** ** *** ****
  • *******
  • **-**-****** ********
  • *** ****** ** *** what **** *** ****** to **
  • ****** *****
  • ****** *******
  • ******** *******
  • ****** **********

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

Terms ** *** ****

********-***** *************** *** **** ** March ******* ~$** ******* ********* ** a ******** ****** **** the ***, **** *** ***** release ****** ****** ******** "additional ******* *******":

** ******* *** *********** and ******* ********** ******* capital, ****** ****** $** million ** ****** ******* promissory ***** ** * consortium ** ******* *******.

*** **** ******** * combination ** ****, *****, and *****, ********* ** sources ***** ** *** company.

************, **** **** **** would ********** **** **** to ****** ** *** company's *** ***** ******* Officer ***** ** ***** help ****** ********** ** a ******-****** ********** *******, the ******* ********* ** IPVM ****:

*** ** **, *** Matt *** * **** understanding ** *** ** make ***** ************ ****. We **** ** *** technology ** **** *** products ******. **** **** help **** **** ********** to * ****** ****** technology *******.

OpenALPR *******

** ******** ********'* ******* is ** *** *** to *** ****** ***** millions, ****** *** ******* declined ** *******. ******* close ** *** ******* said *** ******* *** growing *** **********, ***** is ********** ***** ***** small **** (***** ** employees). *** ************ *** mention "********’* ******* ***** recognition (“***”) ******** *** increased ** **** *,*** cameras". *******, *** *** of ***** ******* *** on ***** **** ** unknown *** **** ***** from **** ** $** per ***** ** * one **** $*** *******.

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

*******

***** ****** **** ***** were ****** ***** ** adjust ********* *****, **** would *** ********* ** increases ** *********, *** provide * *********.

******** ********* *** * few ********* *****—**-******* ****,***** ******,***** ***, ********** ***** ******. ****** ***** **** a *******-******* **** ******* to $**/******/***** ** $*** per ***** *** *** cloud *** ********** ********.

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

******** *** ************* **** available ** *** ***** directly *** *********** *******. ****** **** ***** were ** ***** ** change *** ***** ** this ****.

About ******

****** ** * ******** traded ******* ******* **** has **** ********* / rolling ** ******* ******-****** focused ********* **** *** past *** *****. *** company **** **** **** 120 ********* *** ********* own * ***** *********, including:

  • ********* ******* ******, * ******** ** automated ******* ****** *********** solutions, ******* *********** ******** collections, *** ****** ********** equipment ********* *** ****** safety ********.
  • ****** ****** ******, * ******** *** integrator ** ****** ****** vehicle ********** ********* ** municipalities, *** ** ********, and ***** ******* *** public ********.
  • *** *** *********, * ********** **** focused ******** ***********, ******* planning, *** ****** ********** services *** ******* ******** for ********** *********.
  • ********* *********, * ****** ********** consulting ****.
  • ****** ********* ********, * ********* ******** company **** ******** *********** support ** *** *** and ********* ********.
  • ****** ******** *************, * ******** ****** that ****** ********* ************* and *********** *** *********** facilities

******** **** **** **** portfolio ***, *** ********'* Hill **** ** **** revenue ***********:

*** ** ***** ************ is *********. **** ***** a ****** ** ********* products. **** **** ***** **** ********** ****’** ****** *** to. ** ******** **** over ****. ****** ***** partnerships. * *** *** potential *** **** *******. Plus ******'* ******* *** was ***** *********** *******, so ***** *********** **** help ** ***** ** as ****.

Risky ********

****** **** **** *****. The ******* *** * market ************** ** **** ~$14 ******* *** *** its ***** ****** ** less **** $* *** share, ******* *********** ***** after *** *********** ************.

***** ****** ************** ****** in **** **** ** ~$100 ******* ***, ****** is **** **** **** 80% ***** ****.

Financials **** ******

******* ******* ** **** Novume *** *** ****** its ** **** **********. However, ********* ** ******, ***** ******* *** on **** *** ~$** million *** **** **** a *** **** ** ~10% ** *** ******* below *****:

*** ***** ***** ******** the ******* *** ****** and *********' ******** ***** the ********* ** ******* these ********** ***********.

Future **********

****** **** **** ***** forward, *** ******* ***** focus ** ******* *** business *** ******* ** the ******** ********. **** said **** *** ***** Science ******* **** ***** undertake * ****** ** pursuits **** *** *** of ********** ** ******* the ******** ******** *** would **** ****** ** some *** ********:

**** **** ** ****** out **** * *** version ** *** ******** in *** ******, ****** we ***'* **** * definite ********* ** ****. That **** **** *********** improvements.

*******

** ** **** *** us ** ***** * clear *******. ***** ******** sits ** * ******* trend *** ***** * different ******** ** **** LPR *********, ****** ** embarking ** * *********** and ***** ******** ****** all ** ***** *********.

Comments (17)

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 09:36am

********* **** **** *** the ******** ****. * hope *** ***** *** stays ** ***** ** is ******* *** **** of *** ************ ** do.

Undisclosed #3

03/17/19 12:21am

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

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

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

Undisclosed #4

In reply to Undisclosed #3 | 03/16/19 09:33pm

******** ******** ** ********** Novume

* ** ************ ** learn **** *** ********* company’s **** ** ****** “Novume”, *** “****************”, ***** *** ** far ****** :)

Undisclosed Manufacturer #5

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

* ***** **** ** disagree ** * ************* level. ***** *********** *** is **** *** ** an *****, **** ***’* really **.

*******, ** *** ****** or ****** ********* ** “learn” **** ** * plate, **** ****** ** expect ******* ***********, **** that ***** ** **.

******* *** ** ** appears ****** *** ****** uniform. ** *** **, there *** ****** **** have *******, ***** ******* and ****.

Undisclosed #3

In reply to Undisclosed Manufacturer #5 | 03/16/19 10:49pm

"*******, ** *** ****** or ****** ********* ** “learn” **** ** * plate"

*** *** ***** **** I *** ********* ** LPR ***** ****** *** - *** *** **....

*** *** ******* *** AI ***** ** **** to '*****' **** * plate ** - **** inputting *** ************ *************** of * ***** ****** 'teaches' *** ******** *** it ****** ***** ** know?

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

**** *********** ** **** a ****** ******* ** and *** ** *****... I ***** ******** ***** to ********** *** ************ of *** **** **** and **** **** *** do.

*** **** *** *** of *** ***** *****-***** specific *** ***** *** VCA - ********* ******* the *** ** ******* plates ** ****** ************.

*.*. ***** *** **** of **** ****** *** characters *** ******* ***** - **** ****** **** state *** ****** ** some ******. ** *** a **** *** *** the ********** ** *** day - *** ** worked **** **** (**** certain ********, *** *** resolution **************) *** ********* to **** **** *****.

** ** **** ***-***** commercially ********* ****** ******* options - *** ***** to **** ****** **** already, **** *** **** AI/neural ******** ******* ********** value?

*'* *** ****** ** has ** *****.... *'* simply ********* *** ** improves **** - ***** already ***** ****** ****.

Undisclosed #4

In reply to Undisclosed #3 | 03/17/19 02:05am

***** **’* *** **** much ******, ***** **** good *******, **** ***** and ******* ** ***, you *** *** **** results.

****** ***** ** **** you *** **** **** less ****-*** **** ** achieve *** ****. **** speculating ****.

Undisclosed Manufacturer #5

In reply to Undisclosed #3 | 03/17/19 10:00am

***** ** ***** ********* plates *** ********* *** same. ** *** ** there *** ** ****** and ***** * ******** variations ** ******, **** having *** ******* ** access *** *****. *** plates ****** ********. * can *** ***** ** or “******** ********” ***** be ****** *** ** the ********** *********** ** “plate ******” ***** ** added, ** ***** ***** it *** ****** **.

Undisclosed #3

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

"** *** ** ***** are ** ****** *** about * ******** ********** of ******, **** ****** the ******* ** ****** any *****. *** ****** appear ********."

***** **** ***** ** the ** *** *** own ****** (*** **** states **** ******* ********* types/themes, ***) -***** ******* ********* ** still ************ ** **** state.

******* **** *** '****' all *** ******** ***** license ****** - *** all ********** ** **** - ****** ** ******** this **** **** * database.

*.*. **** ** '******' by **** ***** *** has ** **** *** AI - ***** **** state **** ************ *************** of ***** **** *** character ****/****/*******, ***.

"**** ** *****' ** a ******** ******* ****** that *** **** ** place *** **** ***** on *** *********/******** ** numerous ** ******.

* *** ****** *** that *** ** ***** drivers *** ****** ***** fare ***** (*********** **** pun).😏

Undisclosed #6

In reply to Undisclosed #3 | 03/18/19 10:29am

** ** * ***** term. ** ***** **** been **** ******** ** state... *** *** ******* recognition ** ** *********** of ** ** ***** "machine ******** (**)" ** "deep ********" ** * subset. ******** **** ******* learning ** ********* ******* plates ** ****** ** countries/regions *** ******* ****, model, *****, **** ****, etc. **** ** ********* of **** ***** ****** are ******** ** ****** and **** ***** **** and ******** ** *** into * *********** ****** network ** **** *** algorithm '******' **** *** that *****. **** ** the ******* ******* *** many ******* ***** *********. Cameras *** ********* *** learning ** ********** *** data ** *** ****, rather **** ** **** at *** ****** / cloud.

Undisclosed End User #7

03/19/19 04:30pm

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

Knight Hamalian

04/02/19 10:53pm

* *** ********* *** a ******* ****** ****** would ** ********** ******* ALPR... **** * **** this ***** *******: ****** Solutions ** ****** **** to ***** *******, ***. I'm ******* ******* ** seeing *** **** ** with *** ******** ***********.

****** ********* ********* ***** on ********** ******** *** Services *** ********* ** Change **** *** ******* Businesses

Undisclosed #6

In reply to Knight Hamalian | 04/02/19 07:42pm

****** (********** "** ****") is **** *** ******* company *** ***** ************ (likr ******** ******* *** Rekor). * ***** *** OpenALPR ***** ** ***** preserving *** ****** ***** be **** ** ******* "powered ** ********" ** future ********.

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