SuperCom Secures New Contract in Tennessee, Expanding U.S. Presence into 11th New U.S. State in Less Than a Year
Rhea-AI Summary
SuperCom (NASDAQ: SPCB), a global provider of secure e-Government solutions, has secured a new electronic monitoring (EM) contract in Tennessee through a partnership with an established service provider. This marks SuperCom's entry into its 11th new U.S. state since mid-2024, highlighting the company's rapid North American expansion.
The Tennessee-based provider will transition existing GPS programs to SuperCom's PureSecurity™ platform and implement domestic violence monitoring programs. The contract follows a recurring revenue model with monthly billing based on daily unit usage. This achievement adds to SuperCom's impressive growth, having secured 10 new service provider agreements and over 20 new direct contracts in under a year in the U.S., along with 15 national projects globally.
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News Market Reaction 11 Alerts
On the day this news was published, SPCB gained 6.63%, reflecting a notable positive market reaction. Our momentum scanner triggered 11 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $3M to the company's valuation, bringing the market cap to $47M at that time.
Data tracked by StockTitan Argus on the day of publication.
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Under the agreement, SuperCom will serve as the provider's EM technology partner, supporting both current operations and future program expansion. The first stage of the engagement includes a transition to SuperCom's Pure One™ solution as well as launching SuperCom's PureShield solution for domestic violence. This contract will follow a simple recurring revenue model, billed monthly based on the number of total daily units—a common structure for electronic monitoring programs in the U.S.
"We're pleased to announce our entry into Tennessee—our 11th new
"This new deployment further strengthens our position in the
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, 2024, filed with the
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SOURCE SuperCom