SuperCom Secures Two New Agency Contracts in Kentucky, Displacing Incumbent Competitors

Rhea-AI Summary

SuperCom (NASDAQ: SPCB) has secured two new contracts with agencies in Kentucky, successfully displacing incumbent competitors. The contracts involve deploying SuperCom's advanced public safety technologies for enhanced monitoring capabilities. This expansion builds upon the company's existing presence in Kentucky, where it has previously deployed its PureProtect domestic violence monitoring solutions.

The achievement marks continued growth in SuperCom's U.S. market presence and demonstrates its ability to establish direct partnerships with government agencies. The company's focus remains on delivering tailored solutions to enhance offender monitoring and support rehabilitation efforts, contributing to Kentucky's public safety infrastructure.

Positive

• Won two new government contracts in Kentucky
• Successfully displaced existing incumbent competitors
• Expands existing presence in the Kentucky market
• Demonstrates competitive advantage in securing direct agency contracts

Negative

• None.

Insights

Government Contracts Analyst

The two new Kentucky agency contracts represent a strategic displacement victory in the competitive electronic monitoring market. The win against incumbent providers suggests SuperCom's superior technology offering and competitive pricing structure resonated with state procurement decision-makers. Government contract displacement victories are particularly valuable as they indicate both technical superiority and cost-effectiveness, while also creating barriers for competitors to re-enter.

For a micro-cap company with a $9.5 million market capitalization, securing direct agency contracts is important for establishing recurring revenue streams and building a stronger foundation for growth. These wins in Kentucky expand SuperCom's footprint in the U.S. public safety sector, which offers stable, long-term contract opportunities. The domestic violence monitoring systems previously deployed in Kentucky likely provided reference credibility that helped secure these new contracts.

While specific contract values weren't disclosed, typical state-level electronic monitoring contracts can range from $500,000 to several million dollars annually, depending on the scope and number of monitored individuals. The displacement of two different incumbents suggests these are meaningful contracts relative to SuperCom's current market size.

Public Safety Technology Specialist

The technological significance lies in SuperCom's PureProtect platform successfully competing against established monitoring solutions. Electronic monitoring systems require sophisticated integration of IoT sensors, real-time tracking and secure data management - areas where SuperCom appears to have demonstrated superior capabilities. The company's experience since 1988 in digital identity and RFID technology provides a strong foundation for reliable offender monitoring solutions.

The ability to customize solutions for different agency requirements while maintaining system reliability is important in public safety applications. SuperCom's track record with domestic violence monitoring in Kentucky likely provided valuable local implementation experience and demonstrated system stability. This technology win against multiple incumbents validates their R&D investments and could lead to additional displacement opportunities in other states.

SuperCom Continues Rapid US Market Expansion with New Direct Agency Contracts

TEL AVIV, Israel, Jan. 2, 2025 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-Government, IoT, and cybersecurity sectors, today announced that it has secured two new contracts with key agencies in Kentucky. These contracts involve the deployment of SuperCom's advanced public safety technologies, designed to enhance monitoring capabilities and provide reliable solutions tailored to agency needs.

SuperCom successfully displaced different incumbent competitors for each agency, securing these contracts through its innovative and trusted technologies. This achievement reflects SuperCom's expanding U.S. footprint and growing reputation as a trusted electronic monitoring and public safety solutions provider. By fostering direct partnerships with government agencies and delivering tailored solutions, SuperCom further strengthens Kentucky's public safety infrastructure with proven tools designed to enhance offender monitoring and support rehabilitation efforts.

"We are thrilled to deepen our engagement in the Commonwealth of Kentucky, a region where SuperCom has already established roots. These new wins reflect not only our competitive edge in technology but also the trust we've built through our prior achievements in the state, including the deployment of our PureProtect domestic violence monitoring solutions. Our growing presence in Kentucky is part of SuperCom's broader U.S. expansion, where we continue to introduce innovative public safety technologies that address the evolving needs of agencies and communities," commented Ordan Trabelsi, President and CEO of SuperCom.

"This recent success, accompanied by a stream of new contract wins, highlights the momentum we're experiencing across the U.S., as we strengthen our position as a leading provider of electronic monitoring and public safety solutions. It is gratifying to see our innovative technologies not only replace competitors but also make a measurable impact on public safety. These contracts reaffirm our ability to deliver tailored, high-quality solutions while supporting agencies in achieving their missions effectively," Ordan concluded.

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, worldwide. 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, and domestic violence prevention. 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 levels of consumer, business and economic confidence generally, the adverse effects of these risks 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, 2023, filed with the U.S. Securities and Exchange Commission (the "SEC") on April 22, 2024, 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

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

View original content:https://www.prnewswire.com/news-releases/supercom-secures-two-new-agency-contracts-in-kentucky-displacing-incumbent-competitors-302341267.html

SOURCE SuperCom

FAQ

What new contracts did SuperCom (SPCB) secure in Kentucky in January 2024?

SuperCom secured two new contracts with government agencies in Kentucky for the deployment of advanced public safety technologies and monitoring solutions, replacing incumbent competitors.

How does SuperCom's (SPCB) Kentucky expansion affect its U.S. market presence?

The Kentucky contracts strengthen SuperCom's U.S. market presence by expanding its direct partnerships with government agencies and demonstrating its ability to displace incumbent competitors with its monitoring solutions.

What technologies will SuperCom (SPCB) deploy under the new Kentucky contracts?

SuperCom will deploy its advanced public safety technologies for enhanced monitoring capabilities, building upon its existing PureProtect domestic violence monitoring solutions in the state.

How many incumbent competitors did SuperCom (SPCB) displace with the Kentucky contracts?

SuperCom displaced different incumbent competitors for each of the two agencies, totaling two displaced competitors in Kentucky.