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SuperCom Launches $3.6 Million National Electronic Monitoring Project in Finland
Project Deployment and Recurring Revenue Generation Expected to Start in the Near Future TEL AVIV, Israel, March 1, 2023 /PRNewswire/ -- SuperCom (NASDAQ:
About this update from Supercom, Ltd.
[{"type":"text","content":"Project Deployment and Recurring Revenue Generation Expected to Start in the Near Future\nTEL AVIV, Israel, March 1, 2023 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secure solutions for the e-Government, IoT, and Cybersecurity sectors, announced it has launched a $3.6 million project with the national government of Finland to deploy its PureSecurity Electronic Monitoring (EM) Suite. This launch follows the progression of the competitive tender win in Finland previously announced, the successful completion of an appeal process, contract negotiations, and contract execution.\nThe goal of this project is to help Finland improve its public safety while reducing prison overcrowding and lowering recidivism using SuperCom's innovative and proven technology and services. The nationwide project is planned to cover all EM offender programs in Finland for four years and include at least 1,000 enrollees simultaneously, with the potential for expansions. The project will consist of the following PureSecurity offerings: Prison inmate monitoring, GPS tracking of offenders, RF monitoring for house arrest, and officer and offender mobile solutions. This project is expected to integrate traditional EM with inmate monitoring seamlessly and provide continuous monitoring of offenders while incarcerated and during short-term releases away from the facilities.\nThe project was won through a formal government-led bid process in which six companies participated, including the long-term prior incumbent EM vendor for Finland. Under the terms of the award, the contract is valued at approximately $3.6 million. However, revenues recognized by SuperCom will depend on actual usage. The budget consists mainly of costs for leasing EM systems and equipment and recurring maintenance charges. SuperCom expects to complete deployment and generate recurring revenues in the near future.\n\"We are proud to announce another successful project launch in Europe. The growing number of countries opting for advanced EM solutions highlights the increasing need for exceptional technology in this industry. We take pride in the fact that our innovative and proven technology is chosen repeatedly, allowing us to continue revolutionizing the EM industry as we enter new European countries,\" commented Ordan Trabelsi, President and CEO of SuperCom.\nSuperCom's PureS...