SPCB - SuperCom Wins New Project in California Valued at Up to $2.0 million | Benzinga
TEL AVIV, Israel, March 27, 2024 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secure solutions for the e-Government, IoT, and Cybersecurity sectors, announced today that its fully-owned subsidiary, Leaders in Community Alternatives (LCA), has won a new project in California, valued at up to $2 million. As part of this project, LCA will provide a comprehensive jail-based program focusing on re-entry services for adult inmates, designed to support individuals transitioning back into the community. The project embodies a comprehensive, evidence-based approach aimed at significantly reducing recidivism.
The award is a result of winning a formal competitive bid process administered by the county. This new project is valued at up to $2 million over a 5-year period, consisting of a 3-year initial term with two optional one-year extensions, and is expected to generate annual recurring revenues of approximately $400 thousand.
This intent to award will go through the customary county approval process and negotiations before contract execution and project launch. The project is expected to launch in the summer of 2024. SuperCom management expects to provide further information on such in follow-up announcements.
"This award marks an exciting expansion to a new county for SuperCom and underscores our unwavering commitment to enhancing public safety in new territories. This achievement reflects our proven expertise in delivering critical re-entry services and our dedication to positively ...