Clever Devices acquires Digital Recorders
Clever Devices, a Woodbury transportation technology company, announced Friday that it has purchased Digital Recorders Inc.
The price of the transaction, which closed Friday, was not made public.
Digital Recorders is a North Carolina company that develops transportation solutions. It is a former subsidiary of DRI Corp., which filed for Chapter 11 bankruptcy in March. As part of its bankruptcy proceedings, the company announced it would be selling off parts of the operation.
Under the purchase agreement, Digital Recorders will become a part of Clever Devices. Its offices will remain in North Carolina, said Clever Devices chief executive Frank Ingrassia.
“We are excited to continue the tradition of value-added service to Digital Recorders’ extensive client base,” Ingrassia said.
Clever Devices has been in operation for more than 20 years and has annual sales of about $100 million.
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Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
