SPCB Shares Rise 62% on $33 Million National Electronic Monitoring Contract in EU

SPCB Shares Rise 62% on $33 Million National Electronic Monitoring Contract in EU

With news that SuperCom (NASDAQ: SPCB), a global provider of secured solutions for e-Government, IoT and cybersecurity, was awarded the largest electronic monitoring contract in Europe this year, exceeding $33 million for an EU member country, its shares rose 62%. Along with a local partner, SuperCom’s contract will deploy the company’s PureSecurity Electronic Monitoring for domestic violence monitoring, GPS tracking of offenders and home-detection monitoring.

Highlights:

  • This is the country’s first electronic-monitoring project, further extending SuperCom’s EU footprint; Project will monitor up to 15,000 enrollees simultaneously and integrate multiple offender tracking sub-programs.
  • PureSecurity is a best-of-breed electronic monitoring/tracking platform that includes advanced anti-tampering mechanisms, multi-factor biometrics, the latest location technologies and sensors, an ultra-light-weight ankle bracelet with proprietary energy-efficiency algorithms and more.
  • A formal bid process, with eight-plus international companies bidding, included several rounds of negotiations, demonstrations and system tests.
  • Stock shares rose to $.42, an increase of nearly 62 percent.

SuperCom, which has provided global identity solutions, advanced safety and security for nearly 35 years, will provide additional updates following contract signing and project launch. The company serves private and public organizations for industries including healthcare and homecare, community public safety and law enforcement, building access automation and more.

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SPCB Shares Rise 62% on $33 Million National Electronic Monitoring Contract in EU

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