SuperCom Launches $33 Million National Electronic Monitoring Project in Romania

Rhea-AI Summary

SuperCom (NASDAQ: SPCB) has announced the execution of a contract with Romania's Ministry of Interior for a $33 million electronic monitoring project aimed at domestic violence prevention. The project will utilize SuperCom's PureSecurity Suite, which includes advanced tracking and monitoring technologies. The initial order delivery of over $7 million is expected by October 1, 2022. This initiative expands SuperCom's presence in the EU and is expected to enroll up to 15,000 offenders. It marks Romania's first electronic monitoring program, indicating growing recognition of SuperCom's technology.

Positive

• Awarded a $33 million contract in Romania for electronic monitoring solutions.
• Initial order of $7 million expected by October 1, 2022.
• Expansion into the EU market with Romania's first electronic monitoring program.
• Project targets up to 15,000 simultaneous enrollees, indicating significant demand.

Negative

• None.

Initial Order delivery of over $7 million and Domestic Violence Monitoring Program Go-Live is expected by October 1^st, 2022

TEL AVIV, Israel, Sept. 12, 2022 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-Government, IoT, and Cybersecurity sectors, is pleased to announce that, together with its local partner, it has executed the contract and launched the over $33 million project with Romania's Ministry of Interior, following the award announced on August 24^th. The project will include the deployment of SuperCom's PureSecurity Electronic Monitoring (EM) Suite for Domestic Violence monitoring, GPS Tracking of offenders, and a home detention monitoring program.

SuperCom's PureSecurity Suite is a best-of-breed electronic monitoring and tracking platform with a comprehensive set of innovative features, including advanced anti-tamper mechanisms, multi-factor biometrics, the newest location technologies and sensors, practically limitless historic data, seamless 3^rd party API integration, and an ultra-lightweight ankle-bracelet with proprietary energy efficiency algorithms.

This is Romania's first EM project, linking it with a long list of nations choosing SuperCom's EM solutions and further expanding SuperCom's footprint into an additional country in the EU. The nationwide program is expected to encompass all EM offender programs within the country, up to 15,000 enrollees simultaneously, and include a unique integration of multiple offender tracking sub-programs.

The awarded value of the contract based on the government's internal budgeting is over $33 million. The budget is based mainly on monitoring software, EM products, and complimentary services spread over four years, plus an additional three years of continued services. Initial Order delivery of over $7 million is expected by October 1^st, 2022.

"We are excited with the execution of this contract; it further validates our strategy to scale up operations to accelerate growth and improve public safety in more nations worldwide. We look forward to supporting Romania's public safety efforts and bringing them the many benefits of SuperCom's proprietary EM technology. It is an honor to take part in this national initiative by building the necessary infrastructure and deploying Romania's first EM program," commented Ordan Trabelsi, President & CEO of SuperCom.

"This competitive tender process that just concluded is the first of several tenders for large-scale national European EM projects expected to be concluded in 2022 and 2023, with a total estimated value of over $200 million. With this meaningful win and contract execution, SuperCom is once again signaling, after more than 10 other recent national European EM project wins, the superiority of its value offering in the European EM space. We believe our growing reputation as a leading global EM solution provider will drive additional wins in the future," concluded Mr. Trabelsi.

This contract execution follows the award announced on August 24^th, which was won through a formal bid process, with over 8 international companies participating in the bidding process. The process included several rounds of negotiations and several demonstrations and system tests by the contracting authority.

About SuperCom

Since 1988, SuperCom has been a global provider of traditional and digital identity solutions, providing advanced safety, identification, and security solutions to governments and organizations, both private and public, throughout the world. Through its proprietary e-Government platforms and innovative solutions for traditional and biometrics enrollment, personalization, issuance and border control services, SuperCom has inspired governments and national agencies to design and issue secure Multi-ID documents and robust digital identity solutions to its citizens and visitors. SuperCom offers a unique all-in-one field-proven RFID & mobile technology and product suite, accompanied by advanced complementary services for various industries including healthcare and homecare, security and safety, community public safety, law enforcement, electronic monitoring, livestock monitoring, and building and access automation. For more information, please visit SuperCom's website, www.supercom.com 

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded or followed by or that otherwise include the words "believes", "expects", "anticipates", "intends", "projects", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical or current facts. These forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially from the statements made. Examples of these statements include, but are not limited to, statements regarding business and economic trends, the anticipated effects of the COVID-19 outbreak on travel and physical locations, the levels of consumer, business and economic confidence generally, the duration of the COVID-19 outbreak and severity of such outbreak, the pace of recovery following the COVID-19 outbreak, status of contractual awards and related commitments and contingencies, the effect on our supply chain, our ability to implement cost containment and business recovery strategies and resulting anticipated impact of such outbreak on our business, financial condition and results of operations, the adverse effects of the COVID-19 outbreak on our business or the market price of our ordinary shares, and other risks and uncertainties described in the forward looking statements and in the section captioned "Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2021, filed with the U.S. Securities and Exchange Commission (the "SEC") on April 4, 2022, our reports on Form 6-K filed from time to time with the SEC and our other filings with the SEC. Except as required by law, we not undertake any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.

SuperCom Investor Relations:

ir@supercom.com

Kirin Smith
PCG Advisory
ksmith@pcgadvisory.com

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SOURCE SuperCom Ltd.

FAQ

What is the value of the project announced by SuperCom in Romania?

The project is valued at $33 million.

When is the initial order delivery expected for SuperCom's contract in Romania?

The initial order delivery of over $7 million is expected by October 1, 2022.

How many offenders can the electronic monitoring program in Romania enroll?

The program can enroll up to 15,000 offenders simultaneously.

What technology will SuperCom use for the electronic monitoring project in Romania?

SuperCom will use its PureSecurity Electronic Monitoring Suite.

What type of monitoring solutions is SuperCom providing in Romania?

SuperCom is providing GPS tracking and home detention monitoring for domestic violence cases.