DEAL NOTE: Crowell & Moring Represents Rekor Systems in Sale of Subsidiary AOC Key Solutions
Washington – April 15, 2020: A Crowell & Moring corporate team represented Rekor Systems Inc., a publicly traded company (Nasdaq: REKR) (Rekor), in the sale of its subsidiary, AOC Key Solutions, Inc. (AOC), to a new entity organized by AOC’s management that partially financed the acquisition with SBA funding. Rekor is a technology business focused on bringing smarter, faster, cost-competitive solutions to the worlds of smart cities, public safety and customer experience. The sale of AOC is part of the company’s pivot from its legacy staffing businesses to a higher margin technology and software-based business with industry-leading vehicle recognition solutions, and is viewed as a sale of non-core assets.
This is the twelfth transaction that the firm has handled for Rekor and its predecessor companies. The Crowell & Moring lawyers involved in the sale of AOC were partners Stephen McBrady and Lex Eley, counsel William Bruno, and associate Danielle Winston. A link to Rekor’s press release can be found here.
Contact(s):
An Pham
Senior Manager, Media, PR & Communications
+1 202.508.8740
Email: apham@crowell.com