SuperCom, OTI Agree to Extend Due Diligence Period of OTI SmartID Acquisition
SuperCom Ltd (NASDAQ: SPCB) and On Track Innovations Ltd. (NASDAQ: OTIV), a global leader in contactless transactions and near-field communication (NFC), have mutually agreed to extend the due diligence period of OTI's SmartID division acquisition until December 8, 2013.
The due diligence process was extended due to the large volume and size of OTI's SmartID contracts and bids, as well as the breadth and complexity of the intellectual property assets Supercom intends to purchase.
Since 1988, SuperCom has been a leading global provider of traditional and digital identity solutions, providing advanced safety, identification and security solutions to governments and organizations, both private and public, throughout the world. Through its proprietary e-Government platforms and innovative solutions for traditional and biometrics enrollment, personalization, issuance and border control services, SuperCom has inspired governments and national agencies to design and issue secured Multi-ID documents and robust digital identity solutions to its citizens and visitors. SuperCom offers a unique all-in-one field-proven RFID & mobile technology and product suite, accompanied by advanced complementary services for various industries including healthcare and homecare, security and safety, community