Clever Devices acquires Digital Recorders

Clever Devices, a technology solutions for all modes of public transportation, including fixed-route, bus rapid transit, paratransit and rail, has closed a transaction to acquire substantially all of the assets of Digital Recorders. Formerly, Digital Recorders, a provider of ITS to public transit agencies throughout North America, was a wholly-owned subsidiary of Digital Recorders, (DRI), which filed for bankruptcy in March, 2012.

The latest research from Berg Insight indicates that the market for intelligent transport systems (ITS) in public transport operations in Europe was US$1.4 billion (€1.35 billion) in 2015. Growing at a compound annual growth rate (CAGR) of 7.2 per cent, it is expected to reach US$2 billion (€1.91 billion) by 2020. The North American market for public transport ITS is similarly forecast to grow at a CAGR of 8.1 per cent from US$0.6 billion (€0.59 billion) in 2015 to reach US$0.9 billion (€0.87 billion) in

A court-appointed trustee has selected Russian entrepreneur Boris G. Zingarevich, whose investment operations are based in St. Petersburg, Russia, as the winning bidder for Think Global electric vehicle manufacturer, following a bankruptcy proceeding initiated by the Norwegian carmaker last month. In addition, Zingarevich has signed a memorandum of understanding with American advanced lithium-ion battery maker Ener1, and Finnish automobile engineering and manufacturing concern Valmet Automotive, to cooperat