Shares of SuperCom (NASDAQ:SPCB), which provides secure solutions for e-Government, IoT, and Cybersecurity, are rising Tuesday.

The Tel Aviv-based company has successfully obtained a major contract with a U.S. multi-state electronic monitoring service provider.

This collaboration is crucial for accelerating SuperCom's growth within the U.S. market. The deal will bring SuperCom's technology to new areas across the country, while also enhancing current programs in states where its solutions are already in use.

The agreement includes the integration of SuperCom's PureSecurity Suite into both new and existing electronic monitoring initiatives.

PureSecurity Suite, has advanced capabilities like smartphone integration, anti-tamper technology, fingerprint biometrics, and longer battery life, all designed to improve offender rehabilitation and boost public safety.

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The partnership will initially target the Northeastern U.S., with plans for further expansion into other states.

“By collaborating with an established industry player, we are further advancing the modernization of electronic monitoring programs across the U.S.”

The U.S. electronic monitoring market is forecasted to experience substantial growth, potentially reaching $1.8 billion by 2028.

Price Action: SuperCom shares are trading higher by 3.38% at $13.87 at last check Tuesday.

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Image: Courtesy of SuperCom