SuperCom (SPCB) Stock: Why The Price Increased Over 1.6%

By Amit Chowdhry ● May 2, 2022
  • The stock price of SuperCom Ltd. (NASDAQ: SPCB) increased by over 1.6% during intraday trading today. This is why.

The stock price of SuperCom Ltd. (NASDAQ: SPCB) – a global provider of secure solutions for the e-Government, IoT, and Cybersecurity sectors – increased by over 1.6% during intraday trading today. Investors are responding positively to SuperCom announcing that it has launched a new project with the Ministry of Justice and Administration of Croatia. 

This project is the first full-scale electronic monitoring of offenders contract in the country and will deploy SuperCom’s PureSecurity Electronic Monitoring (EM) Suite. And this project was formally awarded earlier this year in a formal bid process and the project launch follows the successful completion of the government approval process and contract execution.

Through innovative, proven technology, and services, SuperCom aims to help Croatia improve public safety efficacy, reduce prison overcrowding, and lower recidivism. And SuperCom will deploy its PureSecurity EM Suite during the project, which includes a monitoring solution that continuously tracks offenders in house arrest. 

SuperCom is going to support the Croatian Government’s EM initiatives and facilitate its expansion nationwide. And the project is set to cover all EM offender programs within Croatia for 5 years.

SuperCom’s PureSecurity Suite is a best-of-breed electronic monitoring and tracking platform – which contains 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.

KEY QUOTES:

“We are pleased to continue our momentum into 2022 with another new project launch, this time in Croatia with a new customer, further expanding our geographical reach. We attribute this new project also to our successful track record of creating customized solutions that best suit the needs of public agencies as they strive to meet their goals in corrections and public safety.”

“We were honored to receive the award in Croatia, scoring higher than any other players in this competitive tender, and happy we were able to progress swiftly to project launch. We see the continuous adoption of our EM technology and services by a growing number of nations as a clear demonstration of the trust in and validation of the quality of our offerings. We expect to win more multi-year government projects globally with both new and existing customers.”

– Ordan Trabelsi, President and CEO of SuperCom

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.