SuperCom Signs Contract with Multi-State Electronic Monitoring Service Provider to Boost U.S. Market Expansion

Rhea-AI Summary

SuperCom (NASDAQ: SPCB) has secured a new contract with a U.S. multi-state electronic monitoring service provider, marking a significant milestone in its U.S. expansion strategy. The partnership will integrate SuperCom's PureSecurity Suite solutions into both new and existing programs, initially focusing on the Northeastern United States.

The service provider, with decades of experience and presence in West Coast, Northeast, and Southeast regions, chose SuperCom after rigorous evaluation of competing technologies. Since summer 2024, SuperCom has entered 6 new states and signed 20 new contracts. The U.S. electronic monitoring market is projected to reach $1.8 billion by 2028.

The PureSecurity Suite features smartphone integration, secure communication, anti-tamper mechanisms, fingerprint biometrics, voice communication, touch screens, and extended battery life.

Positive

• Secured new contract with multi-state service provider expanding market presence
• Entered 6 new states and signed 20 new contracts since summer 2024
• Selected over competitors after rigorous evaluation by established industry player
• Targeting expanding market projected to reach $1.8B by 2028

Negative

• None.

News Market Reaction

+10.13%

1 alert

+10.13% News Effect

On the day this news was published, SPCB gained 10.13%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Established Service Provider with Presence in West Coast, Northeast, and Southeast U.S. Regions Chooses SuperCom above Competition

TEL AVIV, Israel, Jan. 21, 2025 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-Government, IoT, and Cybersecurity sectors, is pleased to announce it secured a new contract with a U.S. multi-state electronic monitoring service provider. This collaboration marks a valuable milestone in SuperCom's U.S. expansion strategy. In addition to SuperCom's direct expansion efforts, a wide-spread market player has chosen to introduce SuperCom's technology to multiple new states and potential programs, unlocking additional opportunities for growth in unit deployments and geographical coverage across the country.

Under this contract, SuperCom's advanced PureSecurity Suite solutions will be integrated into both new and existing programs. The collaboration will initially target high-impact opportunities in the Northeastern United States, with a strategic plan for expansion into additional states in other regions. The service provider will also act as an on-site partner for SuperCom, leveraging its local expertise to ensure efficient deployment and scalability of SuperCom's technologies.

This service provider, an established player in the electronic monitoring services sector with decades of experience and deep familiarity with competing technologies, selected SuperCom following a rigorous evaluation and extensive testing of its advanced solutions. This decision highlights the superiority of SuperCom's technology over competing offerings. SuperCom's innovative and adaptable solutions effectively address the complex challenges of justice programs, providing unmatched value, efficiency, and reliability.

"We are enthusiastic about this partnership, which can help boost our continued expansion in the U.S. electronic monitoring market. On top of the direct and continuing market expansion efforts of our teams at SuperCom, which led to entry into 6 new states and the signing of 20 new contracts since the summer of 2024, the teams of an established industry service provider will also introduce our solutions to agencies in various regions of the nation. With over 30 years of industry experience, the service provider's selection of SuperCom's technology over others can resonate strongly with potential customers," commented Ordan Trabelsi, President and CEO of SuperCom.

"This partnership reflects the trust placed in SuperCom's cutting-edge technology and our ability to deliver transformative results. By collaborating with an established industry player, we are further advancing the modernization of electronic monitoring programs across the U.S.," Mr. Trabelsi added. "SuperCom's solutions are setting a new standard in the electronic monitoring industry. By displacing incumbent players time after time, we are better positioned to meet the growing demand for scalable and impactful public safety solutions. We aim to enhance offender rehabilitation, improve public safety, and deliver technology that defines the future of electronic monitoring programs nationwide."

The U.S. electronic monitoring market is expected to grow significantly, with industry forecasts projecting it to reach $1.8 billion by 2028. SuperCom's innovative solutions are uniquely positioned to capitalize on this expanding demand.

SuperCom's PureSecurity Suite is a best-of-breed electronic monitoring and tracking platform with a comprehensive set of innovative features, including smartphone integration, secure communication, advanced security, anti-tamper mechanisms, fingerprint biometrics, voice communication, unique touch screens, and extended battery life.

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, 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.

Logo: https://mma.prnewswire.com/media/1717536/SuperCom_Logo.jpg

SuperCom Investor Relations:
ir@supercom.com

View original content:https://www.prnewswire.com/news-releases/supercom-signs-contract-with-multi-state-electronic-monitoring-service-provider-to-boost-us-market-expansion-302356121.html

SOURCE SuperCom

FAQ

How many new contracts has SuperCom (SPCB) secured since summer 2024?

SuperCom has signed 20 new contracts and entered 6 new states since summer 2024.

What is the projected size of the U.S. electronic monitoring market that SPCB is targeting?

The U.S. electronic monitoring market is projected to reach $1.8 billion by 2028.

What regions will SuperCom's (SPCB) new service provider partnership cover?

The partnership will initially target the Northeastern United States, with plans to expand into additional states in other regions.

What are the key features of SuperCom's PureSecurity Suite?

The PureSecurity Suite includes smartphone integration, secure communication, anti-tamper mechanisms, fingerprint biometrics, voice communication, touch screens, and extended battery life.

Which U.S. regions does SuperCom's new partner currently operate in?

The service provider has presence in the West Coast, Northeast, and Southeast U.S. regions.