Clever Devices has closed a transaction to acquire substantially all of the assets of Digital Recorders. Formerly, Digital Recorders was a wholly-owned subsidiary of Digital Recorders, Inc. (DRI), which filed for bankruptcy in March, 2012. Digital Recorders is a leading provider of Intelligent Transportation Systems to public transit agencies throughout North America.
Frank Ingrassia, CEO of Clever Devices, said "Digital Recorders has a long history of providing excellent technology solutions to its clients. We are excited to continue the tradition of value-added service to Digital Recorders' extensive client base."
Digital Recorders will become a division of Clever Devices, remaining in its facility in Durham, NC. Ingrassia continued, "The employees of Digital Recorders are a talented group with a wealth of expertise, and we welcome them to our team. We share the same values and culture, and look forward to working closely with them to ensure a seamless transition for their customers."