STOCK TITAN

SuperCom Secures New Contract for Sweden's Juvenile National Electronic Monitoring Project

Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Positive)
Tags
Rhea-AI Summary

SuperCom has secured a contract with the Swedish National Board of Institutional Care for a high-security juvenile electronic monitoring project, its third in Sweden and fifth in the Nordic countries. This project will utilize the PureSecurity GPS monitoring solution, enhancing public safety and reducing prison overcrowding for up to four years. SuperCom anticipates revenue generation shortly after the project's launch in the second half of 2022, marking validation of its innovative solutions in a competitive EU market.

Positive
  • Secured a contract for a juvenile electronic monitoring project in Sweden, marking SuperCom's fifth project in the Nordic region.
  • The project aims to improve public safety, reduce prison overcrowding, and lower recidivism rates.
  • Expected to generate revenues shortly after the project launch in the second half of 2022.
Negative
  • None.

Marks SuperCom's third national electronic monitoring project in Sweden and its fifth national project in the Nordic countries. 

TEL AVIV, Israel, May 17, 2022 SuperCom (NASDAQ: SPCB), a global provider of secure solutions for the e-Government, IoT, and Cybersecurity sectors, has secured a contract with the Swedish National Board of Institutional Care for a full-scale high-security Juvenile electronic monitoring project in the country. SuperCom won this project while offering brand new capabilities and features as part of the PureSecurity Electronic Monitoring (EM) Suite planned to be deployed. This project marks SuperCom's third national electronic monitoring project in Sweden and its fifth national project in the Nordic countries.

SuperCom Logo

Through its innovative and proven technology and services, SuperCom aims to support the Swedish government's efforts to improve public safety efficacy, reduce prison overcrowding, and lower recidivism. The project will include the PureSecurity GPS monitoring solution, providing continuous tracking of offenders in the indoor and outdoor areas. The project is set to cover all EM Juvenile offender programs within Sweden for a duration of up to four years.

The award was won through a formal competitive bid process against other EM vendors with a strong presence in the EU. SuperCom expects to deploy the initial order and generate revenues shortly after the project launch, which is expected in the second half of 2022.

"We are pleased to have secured this contract. Once again, outscoring any other player in this competitive tender. This project is the third national electronic monitoring program in Sweden and follows a successful ongoing project with Sweden Probation and Police agencies. This third national contract signals the validation of our solution, service, and customer satisfaction. Sweden is a known pioneer in adopting innovative EM solutions in Europe, and its choice in SuperCom has become self-evident. We are honored to support countries in taking advantage of the numerous benefits of electronic monitoring programs and supporting their activities. We see the increasing number of European countries adopting our EM technology and services as a clear display of trust and validation of the quality of our products," commented Ordan Trabelsi, SuperCom's President and CEO.

"Many countries that are opting for our EM technology are among the most advanced and evolved EM countries in the world, practicing a modernized and effective approach towards alternatives to incarceration and emphasizing offenders' successful re-entry into society. We believe our rapid expansion and growing brand recognition in Europe and the U.S. ideally position us to capitalize on a valuable pipeline of EM project opportunities worldwide. And we expect to win more projects in the coming future," Ordan concluded.

SuperCom's PureSecurity Suite is a best-of-breed electronic monitoring and tracking platform which contains a comprehensive set of innovative features, including smartphone integration, secure communication, advanced security, anti-tamper mechanisms, fingerprint biometrics, voice communication, unique touch screens, and extended battery life.

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, visit 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, 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.

Logo: https://mma.prnewswire.com/media/1717536/SuperCom_Logo.jpg

SuperCom Investor Relations:
ir@supercom.com

Cision View original content:https://www.prnewswire.com/news-releases/supercom-secures-new-contract-for-swedens-juvenile-national-electronic-monitoring-project-301549082.html

SOURCE SuperCom Ltd.

FAQ

What is the significance of SuperCom's contract in Sweden?

SuperCom's contract is significant as it marks the company's third national electronic monitoring project in Sweden, showcasing their growing presence in the Nordic region.

When is the expected launch of the electronic monitoring project in Sweden?

The expected launch of the electronic monitoring project in Sweden is in the second half of 2022.

What technology will SuperCom use for the juvenile monitoring project?

SuperCom will utilize its PureSecurity GPS monitoring solution for the juvenile electronic monitoring project.

How long will the electronic monitoring project in Sweden last?

The electronic monitoring project in Sweden is set to last for up to four years.

What does winning the contract indicate for SuperCom?

Winning the contract indicates validation of SuperCom's solutions and services in a competitive electronic monitoring market.

SuperCom, Ltd

NASDAQ:SPCB

SPCB Rankings

SPCB Latest News

SPCB Stock Data

6.90M
1.82M
9.02%
1.28%
2.44%
Security & Protection Services
Industrials
Link
United States of America
Tel Aviv