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Digital Ally Surges After Announcing NASCAR Partnership

Digital Ally Surges After Announcing NASCAR Partnership

Digital Ally, Inc. (NASDAQ: DGLY) has signed a multiyear partnership with NASCAR.

The partnership names the software company "A Preferred Technology Provider of NASCAR," and Digital Ally will provide cameras that will be mounted in the Monster Energy NASCAR Cup Series garage throughout the season, according to Tuesday's announcement. 

Digital Ally shares are surging over 44 percent following the announcement.

The move is said to bolster NASCAR’s commitment to safety at every racetrack and enhance the officiating process. 

"NASCAR takes seriously its role in providing a safe environment for its fans and competitors, and this partnership with Digital Ally is the next step in that commitment," said Scott Miller, NASCAR's senior vice president of competition. 

"In addition, this partnership is the latest example of NASCAR implementing technological advancements to officiate, and continuing to provide the best racing for our fans."

Digital Ally is a provider of mobile video systems used by companies and government agencies. The company is considered a pioneer of the design and development of dashboard and body cameras utilized by law enforcement.

"It's our goal to provide our customers with video solutions that are customized to meet their unique business needs," Digital Ally CEO Stanton Ross said in a statement. 

"NASCAR has its own unique set of challenges and it was important to design a durable and reliable solution that will stand up to the demanding environment at-track."

The Daytona 500 is Feb. 18. 

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