Israeli digital id options firm SuperCom (Nasdaq: SPCB) stood out on Wall Avenue yesterday, when its share value rose 62.4% are a lot bigger than common buying and selling volumes. The soar got here after SuperCom reported that along with its native associate, it has been awarded a $33 million contract by the nationwide authorities of an EU member nation to deploy its PureSecurity Digital Monitoring (EM) Suite for a home violence monitoring, GPS Monitoring of offenders and residential detention monitoring program. The contract is for 5 years.
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SuperCom supplies conventional and digital id options, and superior security, identification, and safety options to governments and organizations worldwide. The corporate’s CEO is Ordan Trabelsi and his father Arie Trabelsi is the largest shareholder with an 18.1% stake.
Ordan Trabelsi mentioned, “We’re excited with this award, the most important European EM mission awarded up to now this yr. It additional validates our technique to scale up operations to speed up development and enhance public security in additional nations all over the world. We sit up for supporting one other EU member nation’s public security efforts and bringing them the numerous advantages of SuperCom’s proprietary EM expertise. It’s an honor to participate on this nationwide initiative by constructing the mandatory infrastructure and deploying this nation’s first EM program.”
He added, “This aggressive tender course of that simply concluded is the primary of a number of tenders for giant scale nationwide European EM initiatives which are anticipated to be concluded in 2022 and 2023, with a complete estimated worth of over $200 million. With this significant win, SuperCom is as soon as once more signaling, after greater than 10 different current nationwide European EM mission wins, the prevalence of its worth providing within the European EM house. We imagine our rising popularity as a number one world EM answer supplier will drive extra wins sooner or later.”
Even after yesterday’s robust positive factors, SuperCom has a really modest market cap of $13.25 million, after the share value fell 80% throughout 2021.
Printed by Globes, Israel enterprise information – en.globes.co.il – on August 25, 2022.
© Copyright of Globes Writer Itonut (1983) Ltd., 2022.
