Israeli secured solutions provider SuperCom Ltd.(Nasdaq:SPCB) saw its share price jump 54.5% on Nasdaq on Friday to $2.24, giving a market cap of $42.087, after it reported winning the Israeli government tender (together with Electra Ltd. (TASE: ELTR)) for providing electronic bracelets for tracking Israelis in isolation after returning from abroad.
SuperCom said it had won the tender, "For lease of the company's proprietary PureHealth Coronavirus(Covid-19) Quarantine Compliance Solution, including the PureCare smartphone and PureTag bracelet, as well as complementary services including installation, training for users, support, monitoring, and reporting. SuperCom said the project will run for an initial three months with an option to extend for up to 36 months. SuperCom estimates that the project will produce revenue of $3 million per month.
This is significant revenue for SuperCom, which has revenue of $6.8 million in the first half of 2020 and revenue of $11.3 million in all of 2019.
SuperCom is a veteran company which provides secured solutions for the e-government, IoT and cybersecurity sectors,
SuperCom president and CEO Ordan Trabelsi said, "Our solution for comfortable and effective quarantine compliance can be a valuable tool for inhibiting the transmission of this virus. At SuperCom we strive to help governments around the world with their challenges by offering outstanding services, technology expertise and innovation. I would like to thank the great people at SuperCom and our partner companies for their continued hard work and efforts to make this all possible. SuperCom is prepared for the rapid deployment of the Israeli Covid-19 quarantine compliance project and we look forward to continue demonstrating to the world how our large scale, non-invasive technology-driven solution can help in the fight against Covid-19."
Published by Globes, Israel business news - en.globes.co.il - on March 21, 2021
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