SuperCom Ltd. (NASDAQ: SPCB) is rocketing in the market this morning, and for good reason. The company announced that it has secured a new contract surrounding Electronic Monitoring, or EM, products and services. Here’s what’s going on:
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SPCB Stock Pops On Big Contract Win
In the press release, SuperCom said that it has won a contract to provide its PureSecurity Electronic Monitoring suite in Wisconsin. In the release, the company explained that the contract win continues its positive momentum in securing EM contracts in the Uited States as well as around the world.
SPCB said that the new contract follows a successful live offender pilot. Through the pilot, the EM product was evluated in multiple real-world situations, performing at, or above, par in every situation.
In a statement, Ordan Trabelsi, President of the Americas division at SPCB, had the following to offer:
We are always excited for the chance to put our technology to the test for prospective customers. Our decision to embrace our advanced platform for GPS offender monitoring has brought new capabilities to the marketplace that are quickly realized by our clients.
Our tracking products are extremely flexible in adjusting to the diverse needs of our customer around the globe. First and foremost we focus on public safety by implementing layers of complementary technology such as GPS, cell tower location, Wi-Fi location and communication, RF tethering, carrier agnostic voice/sms/data connectivity, biometrics and traditional landline communication. The PureTrack flexibility and robustness allow us to pursue and win across the full spectrum of the offender monitoring market.
We continues to win new business in a competitive and demanding market with legacy incumbent vendors. Public Safety technology product evaluations are lengthy and thorough. There is a lot riding on the line, and customers cannot afford to make the wrong decision. Additionally, they make a considerable investment in time and effort educating their staff on the operations and capabilities of our products. We are extremely pleased that our customers continue to see the value in the solutions we are bringing to this marketplace ts. Each win continues to demonstrate industry acceptance and faith in our solutions and technology.
We are extremely pleased that our customers continue to see the value in the solutions we are bringing to this marketplace. We continue to increase our customer footprint and prove ourselves to be the premier innovator and provider in this space.
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This Is Big News
The news released by SuperCom this morning proved to be overwhelmingly positive. Over the past several years, the indoor positioning and tracking business has begun to boom. This interest in this technology is only expanding as we speak. That bodes well for SPCB.
The company’s technology has proven to meet the needs of several customers, and with this announcement, yet another is added to the list. As a result, the company is carving a clear path within an industry that continues to grow. All in all, SPCB stock is one to watch closely.
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