Traffic management start-up Waycare Technologies snapped up by Rekor Systems for USD 61 million
Categories: Hi-Tech
Israeli start-up Waycare Technologies has been acquired by U.S. public company Rekor Systems for $61 million, just five years after its founding.
Waycare has developed a solution using AI to help government agencies with crash prediction, congestion detection, and incident management.
Intelligent infrastructure is the foundation upon which smart cities are built and this acquisition is another milestone in an industry with vast potential.
Pearl Cohen advised Waycare with the team consisting of Guy Lachmann, Uri Nesher and Iyar Aviram, while Rekor Systems was represented by Yaniv Aronowich, Tamar Krongrad and Sapir Atal from Tadmor Levy & Co.
