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SuperCom Ltd (NASDAQ:SPCB) stock rose Monday after the company said it had secured a national electronic monitoring contract in Germany.
Under the terms, the company will roll out its PureSecurity Electronic Monitoring suite to support public safety programs, including domestic violence monitoring, GPS tracking of offenders, home detention, and alcohol monitoring.
The deal followed a competitive tender among international vendors and ends more than two decades of reliance on the previous supplier.
The German government agency overseeing the program has been a pioneer in electronic monitoring in Europe for more than 25 years.
The program has a budget of approximately $7 million over a period of up to four years, with revenue to SuperCom dependent on usage levels during the contract.
Ordan Trabelsi, President and CEO of SuperCom, said, “We are thrilled to announce winning the national electronic monitoring project in Germany, Europe’s largest economy and one of the world’s most advanced and demanding technology markets.”
“This award builds on our strong international momentum, including over 15 national EM project wins across Europe in recent years and more than 30 new contract wins in the U.S. in the past year alone,” he added.
SuperCom says its PureSecurity Suite offers one of the most advanced electronic monitoring platforms on the market, combining GPS and RF tracking, anti-tamper safeguards, multi-factor biometrics, and secure communications.
The system features an ultra-lightweight ankle bracelet, designed for extended battery life, and integrates seamlessly with third-party systems.
Its modular setup allows authorities to use it across a range of programs, from domestic violence prevention to community supervision and rehabilitation.
In August, SuperCom reported second-quarter adjusted earnings of 49 cents per share, topping analysts’ estimates of 35 cents. The quarterly revenue rose to $7.14 million, above expectations of $6.46 million.
Price Action: SPCB shares were trading higher by 10.64% to $13 at last check Monday.
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Posted In: SPCB
