SuperCom Together with Prime Partner Electra Awarded New 5-Year National Electronic Monitoring Contract with the Israel Prison Service Agency

Rhea-AI Summary

SuperCom (NASDAQ: SPCB), together with partner Electra, has been awarded a 5-year contract by the Israel Prison Service (IPS) to deploy its PureSecurity Electronic Monitoring (EM) Suite. The contract, already in effect, covers all EM programs in Israel, starting with Home Detention Monitoring and GPS Tracking programs. The nationwide program is expected to include approximately 1,500 enrollees with potential for expansion.

SuperCom will deploy its advanced EM solutions, including PureCom, PureTrack, PureTag, and PureBeacon. The contract includes an option for up to four one-year extensions. This win strengthens SuperCom's position as a leading security technology provider and demonstrates the growing global demand for its advanced EM solutions.

Positive

• Awarded a 5-year contract with potential for 4 additional years
• Contract covers all EM programs in Israel, estimated to include over 1,500 offenders
• Strengthens SuperCom's position as a leading security technology provider
• Demonstrates growing global demand for SuperCom's EM solutions
• Partnership with reputable security services provider Electra

Negative

• None.

Insights

Government Contracts Specialist

This contract win is a significant development for SuperCom, potentially boosting its revenue and market position. The 5-year deal with the Israel Prison Service, covering an estimated 1,500 offenders, represents a substantial and stable income stream. The optional 4-year extension further enhances long-term prospects.

The contract's scope, encompassing all EM programs within Israel, demonstrates strong confidence in SuperCom's technology. This national-level implementation could serve as a powerful reference for future international contracts, potentially opening doors to similar large-scale projects globally.

However, investors should note that government contracts can be subject to political and budgetary changes. The partnership with Electra, while beneficial, may also impact profit margins. Overall, this contract significantly strengthens SuperCom's position in the e-Government and IoT sectors, potentially driving growth and increasing shareholder value.

Technology Analyst

SuperCom's PureSecurity Suite showcases advanced features that position the company at the forefront of electronic monitoring technology. Key innovations include:

• Multi-factor biometrics for enhanced security
• Cutting-edge location technologies and sensors
• Seamless 3rd party API integration for system flexibility
• Ultra-lightweight ankle bracelet with proprietary energy efficiency algorithms

These features address critical needs in correctional facilities and law enforcement, potentially giving SuperCom a competitive edge. The successful deployment in Israel could serve as a proving ground for these technologies, potentially leading to increased adoption in other markets. However, the rapidly evolving nature of IoT and cybersecurity sectors means SuperCom must continue innovating to maintain its technological advantage.

Contract Already in Effect; National Electronic Monitoring Program Estimated to Include Over 1,500 Offenders; Optional Extension of Up to 4 More Years

TEL AVIV, Israel, Oct. 10, 2024 /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 prime partner Electra, it has been awarded a 5-year contract by the Israel Prison Service state agency (IPS) to deploy its PureSecurity Electronic Monitoring (EM) Suite. This full-service contract encompasses all EM programs within the country, beginning with the existing Home Detention Monitoring program and additional GPS Tracking programs.

The nationwide program is expected to cover all EM offender programs in the country, with an estimated 1,500 enrollees and potential for expansion. SuperCom will deploy its cutting-edge EM solutions, including PureCom, PureTrack, PureTag, and PureBeacon. The 5-year contract is already in effect and includes the option for up to four one-year extensions. .

"We are deeply honored to support Israel's public safety infrastructure during these challenging times," commented Ordan Trabelsi, President and CEO of SuperCom. "Our mission goes beyond business; it is about contributing to the safety and resilience of Israel. By providing the Israel Prison Service state agency with our advanced electronic monitoring solutions, we reaffirm our unwavering commitment to making Israel safer for all its citizens," Ordan continued.

"We also thank our partner, Electra, one of the most reputable and reliable nationwide security services providers. Together, we offered a winning proposal that combines the most advanced technologies and services to meet the critical needs of the IPS," Ordan added.

"This win further enhances our ability to deliver top-tier technology and services for effectively managing correctional programs and enhancing public safety. It highlights the growing demand for our advanced electronic monitoring solutions globally and strengthens our strategic position as a leading security technology provider," Ordan concluded.

The project was won through a highly competitive bid process, including several rounds of negotiations, demonstrations, and system evaluations required and supervised by the IPS. SuperCom management expects to provide further information on such in future announcements.

SuperCom's PureSecurity Suite has consistently proven effective in enhancing public safety and facilitating the management of correctional programs worldwide. The platform features state-of-the-art GPS tracking, communication, and monitoring technologies designed to meet the needs of correctional facilities and law enforcement agencies. It includes advanced anti-tamper mechanisms, multi-factor biometrics, cutting-edge location technologies and sensors, seamless 3rd party API integration, an ultra-lightweight ankle bracelet with proprietary energy efficiency algorithms, and extensive historical data.

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, 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

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SOURCE SuperCom

FAQ

What is the duration of SuperCom's new contract with the Israel Prison Service?

SuperCom's new contract with the Israel Prison Service is for 5 years, with an option for up to four one-year extensions.

How many offenders are expected to be covered by SuperCom's EM program in Israel?

The nationwide program is estimated to include over 1,500 offenders, with potential for expansion.

What electronic monitoring solutions will SuperCom (SPCB) deploy for this contract?

SuperCom will deploy its advanced EM solutions, including PureCom, PureTrack, PureTag, and PureBeacon.

Who is SuperCom's partner in this contract with the Israel Prison Service?

SuperCom's partner in this contract is Electra, a reputable nationwide security services provider in Israel.