from the November 2011 issue

SuperCom secures $50m. contract

SuperCom (OTCBB: SPCBF.OB; Euronext: SUP), which provides smart-ID and active radio-frequency tracking solutions has signed an agreement worth about $50 million to supply an ID cards system to am unnamed, European country.

SuperCom revenues in the first half of 2006 amounted to just $4.9 million, and that was an increase of 25% against the same period of 2005.

The 10-year project is commencing in this month, says SuperCom. It will be implementing an end-to-end national ID issuing and control system based on its Magna system.

The deal includes the supply of digital enrollment and production equipment, software, maintenance and supply of secured raw material for the production of various National ID cards.

Eyal Tuchman, SuperCom's CEO said, "We anticipate this important contract will increase SuperCom's backlog and revenues for the next ten years and will further strengthen SuperCom's comprehensive Magna solution as a technology leader for national ID projects.

Recently SuperCom announced several additional agreements to supply its Magna system for the production, management and personalization of biometric passports in Asia-Pacific, Europe and other regions. For the first half of 2006, SuperCom reported to a loss of $1.64 million or 9 cents per share.

Reprinted from the Israel High-Tech & Investment Report November 2011

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