OMNIQ Corp. buys parking management IP and assets from Eyepax USA

By Akshay Kedari  | Date: 2020-03-04

OMNIQ Corp. buys parking management IP and assets from Eyepax USA

 

  • The acquisition will help OMNIQ become a prime contractor offering a superior and innovative approach in the Parking industry

OMNIQ Corp. has recently announced that it has acquired the intellectual property (IP) along with few other assets of Eyepax USA, a provider of hardware and software packages for cloud-based parking management solutions.

The latter’s solutions involve its Lane Pro, recognition of license-plate and parking using OMNIQ-HTS cameras; Citation Pro, which primarily processes parking violations and Online Parking System (OPS), which is mainly a solution based on the cloud for maintaining enforcement and parking permit citations.

Apparently, the purchase aligns with OMNIQ’s Machine Vision, a wide-ranging Vehicle Recognition System based on AI that includes patented License Plate, Make Recognition, and Color. It also helps the company in offering a comprehensive and integrated solution that combines mobile, handheld and fixed hardware along with a strong solution for citations, collections and visual permits.

According to reliable sources, Machine Vision solutions based on OMNIQ’s AI have been installed in more than 30 Airports across the U.S. such as at La Guardia, Los Angeles, JFK, Newark and Miami among others. It has also been installed in a few Public Safety Projects in South America, certain sensitive districts in the Middle East and South America.

OMNIQ Corp’s CEO, Shai Lustgarten reportedly stated that the acquisition makes the company a Prime Contractor as it is a pioneer in the development and provision of Machine Vision, essentially Object Identification Solutions. As a prime contractor, OMNIQ will offer a superior and innovative approach that will help the company climb high up the food chain within the Parking Industry.

The parking enforcement and revenue control system (PERCS) of Eyepax offers an extensive range of operational benefits which includes time management for operators, improved generation of revenue as well as an elevated level of customer satisfaction. PERCS can incorporate revenue enforcement and parking access capabilities in a single platform by using a license plate recognition (LPR) technology.

 

Source Credit- https://apnews.com/Globe%20Newswire/ae88cc8197bb3721870adb4d8e92bc0b

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Hyundai’s U.S. investment expected to reach USD 10 billion by 2025

Hyundai’s U.S. investment expected to reach USD 10 billion by 2025

By Akshay Kedari

South Korea's largest carmaker Hyundai Motor Group is reportedly planning to invest an additional USD 5 billion in the U.S. by 2025. The company aims to strengthen its collaboration with technological firms in the country. During a visit to Se...

Amazon Smart Commerce to digitize 10 million small businesses in India

Amazon Smart Commerce to digitize 10 million small businesses in India

By Akshay Kedari

E-commerce behemoth Amazon Inc. has reportedly launched a “Smart Commerce” initiative in India, aiming to digitalize 10 million small businesses, allow for USD 10 billion worth in exports, and create 2 million jobs by 2025. During the ...

McDonald’s to leave Russia after 30 years amidst Ukraine’s invasion

McDonald’s to leave Russia after 30 years amidst Ukraine’s invasion

By Akshay Kedari

After Ukraine’s invasion, multinational fast-food giant McDonald's Corp. is reportedly planning to sell all its restaurants in Russia, pulling operations from the nation after 30 years. The world's biggest fast-food chain closed 847 ...

Berlin’s GetHenry bags USD 17.4 Mn seed funding for business expansion

Berlin’s GetHenry bags USD 17.4 Mn seed funding for business expansion

By Akshay Kedari

GetHenry, a Berlin-based company that offers couriers and logistics organizations electric last-mile delivery bikes, has reportedly raised USD 17.4 million seed round to grow its operations across Europe. The latest investment round was led by LocalG...

Ferrari to equip the upcoming Purosangue with its trademark V12 engine

Ferrari to equip the upcoming Purosangue with its trademark V12 engine

By Akshay Kedari

Italian luxury sports car manufacturer Ferrari S.p.A. will equip its much-awaited Purosangue SUV with a 12-cylinder engine, as it focused more on fuel-efficient models. Confirming the news, Ferrari Chief Executive Benedetto Vigna claimed that the com...