By For Immediate Release
SUPERCOM COMPLETES SMART ID ACQUISITIONForming a company with a combined 2012 pro-forma revenue of $26.2M and EPS of $0.88
Herzliya, Israel, December 26, 2013 - SuperCom Ltd (NASDAQ: SPCB), a leading provider of Electronic Intelligence solutions for National ID, Public Safety and HealthCare, today announced that it has completed the acquisition of the Smart ID division from On Track Innovations (NASDAQ: OTIV).Subsequently all the SmartID operations, key employees, regional subsidiaries, products and technologies, the broad range of ID and e-ID solutions, software platforms, patents and other IP assets have been transferred to SuperCom. In addition, SuperCom is gaining high gross-margin contracts, a rich and extensive pipeline of bids, proposals and leads, as well as a satisfied customer base and references around the world.
Arie Trabelsi, CEO of SuperCom commented, "We are very excited to have closed this highly synergistic and accretive acquisition. We have invested significant time and effort into ensuring the assimilation process will be as smooth as possible, hence from today we are already running at full steam. Our new customers will continue to receive full, uninterrupted and the exceptionally high level of service that we are accustomed to providing at SuperCom."Post-acquisition, SuperCom demonstrates:
