SuperCom Wins New $1.7 million Contract

Rhea-AI Summary

SuperCom (NASDAQ: SPCB) announced a new contract worth $1.7 million with an existing customer in its e-Government division. The contract entails the delivery of products and services over the next six months, starting by the end of October 2022. The company has been servicing this customer for over a decade, indicating strong customer satisfaction. SuperCom aims to enhance its technological capabilities while expanding its global customer base.

Positive

• Secured a new contract valued at $1.7 million with an existing customer.
• Strong customer satisfaction indicated by over 10 years of service to the client.
• Anticipated delivery of products and services spread over six months.

Negative

• None.

New Contract with existing customer expected to be deployed over next 6 months

TEL AVIV, Israel, Sept. 29, 2022 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-Government, IoT, and Cybersecurity sectors, is pleased to announce that it, has secured a new $1.7 million contract by an existing customer of its e-Government division.

 

According to the terms of the contract, the budget of the contract is $1.7 million, with products delivery and services spread over 6 months and expected to start by end of October 2022.

"We are pleased to win this contract from a long-standing and valued customer of our e-Government division, signaling to strong customer satisfaction in our proprietary products and services, exemplified again through this customer which we have been servicing for more than 10 years already. As we continue to enhance our technology capabilities, provide outstanding services to existing customers, and win more new customers around the world, we gain further confidence in our goals to grow and help more nations around the world," commented Ordan Trabelsi, President & CEO of SuperCom.

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 new contract announced by SuperCom (SPCB)?

SuperCom announced a new contract worth $1.7 million with an existing customer in its e-Government division.

When will the new contract for SuperCom (SPCB) commence?

The new contract is expected to start by the end of October 2022.

How long is the contract duration for SuperCom (SPCB)?

The contract delivery and services are scheduled over a period of six months.

What does SuperCom (SPCB) specialize in?

SuperCom is a global provider of secured solutions in e-Government, IoT, and Cybersecurity sectors.

How long has SuperCom (SPCB) been servicing its existing customer?

SuperCom has been servicing the existing customer for over 10 years.