SuperCom (NASDAQ:SPCB) has signed a new ~$4M contract with a national government customer in Africa to provide various core elements of its flexible passport and visa solutions.
The contract is expected to grow company's steady state revenues.
The majority of contract revenue is expected to be recognized over the next two years.
Arie Trabelsi, CEO of SuperCom said, "This particular customer has been with SuperCom for more than a decade, has renewed with us several times, and now granted us a new contract resembling growth in our relationship. Over time, we've been able to build trust by providing a high level of satisfaction in both our products and services. We will look to enrich this mutually productive relationship as well as grow our other existing e-Gov relationships as they present significant opportunities for expansion. We believe that, as the needs of our customers continue to evolve, we will be there alongside them to provide the same exceptional service they've come to expect. And in turn, we expect to not just maintain, but grow these high-margin recurring revenue streams in the future."
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