Delivery and revenue recognition expected in the fourth quarter of 2023
TEL AVIV, Israel, Oct. 30, 2023 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-Government, IoT, and Cybersecurity sectors, is pleased to announce, together with its local partner, the receipt of a third order by Romania's Ministry of Interior, further extending their successful partnership and reinforcing their commitment to Romania's National Electronic Monitoring (EM) Project. The order is valued at approximately $3.4 million and is anticipated to be delivered by the end of the fourth quarter of 2023.
Building upon the successful execution of two prior orders totaling approximately $15.1 million, this order continues the expansion of Romania's EM program based on SuperCom's PureSecurity Suite for domestic violence monitoring, GPS Tracking of offenders, and home detention monitoring.
"We are excited to extend our collaboration with the Romanian government on this pivotal initiative. The recent order, valued at $3.4 million, underscores the caliber of our technology and the unwavering trust our clients have in SuperCom," said Ordan Trabelsi, President & CEO of SuperCom.
"The Romanian Project is progressing as planned. Thanks to our expert team and state-of-the-art technology, we've ensured flawless execution, consistently meeting and surpassing stakeholder expectations," added Ordan.
"This latest order reinforces our status as a global frontrunner in electronic monitoring solutions. At SuperCom, we are dedicated to not only achieving excellent outcomes but also building enduring relationships with governments across the globe," Ordan concluded.
SuperCom's PureSecurity Suite is an end-to-end electronic monitoring solution with state-of-the-art GPS tracking, communication, monitoring technologies, and a secure software platform providing real-time tracking and reporting. The system was designed specifically to meet the needs of correctional facilities and law enforcement agencies, providing them with the tools they need to manage offenders effectively and ensure public safety.
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
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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, 2022, filed with the U.S. Securities and Exchange Commission (the "SEC") on April 20, 2023, 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.
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