SuperCom Ltd. (SPCB) stock surged 49.63% in the current-market trading session at the price of $0.65 after it purchased 0.512M shares in the open market. SuperCom is an international provider of conventional and digital identity solutions. Since 1988, the company has delivered advanced security and identification solutions to private and public organizations.
SPCB Purchased 512,000 Shares
On 30th December 2021, SPCB reported purchasing 0.51M SPCB shares as part of its purchase program to buy up to 3M SPCB shares in the open market. Under the purchase program, the company may purchase shares in open market transactions or through other authorized ways.
Chairman of SuperCom, Mr. Arie Trabelsi, remarked that SPCB’s current stock price levels do not reflect its high intrinsic value. This recent 512,000 shares purchase and purchase program allows him to acquire more SuperCom shares and highlight the company’s value.
Safend Selected by Government Agency
On 20th December 2021, SPCB reported that Safend, its cyber security division, had been nominated by cyber security companies and government security agencies to expand their Cybersecurity Protection programs. Orders from these clients have expected to surpass $0.35 million in the Q4 of 2021.
Safend supplies a wide range of competitive encryption and data protection solutions to government agencies and security enterprises. The Safend Protection Suite modules Reporter, Protector, and AVScan Integration had also included in these programs. These programs will offer integration with existing government systems as well as the inclusion of thousands of end-point machines.
Chief executive officer of SPCB, Ordan Trabelsi, remarked that they are delighted to have been chosen by government agencies. It demonstrates the trust these agencies and business organizations have in industry-leading solutions. They expect to have long-term partnership clients for their Cyber Security division.
Many of these agencies handle critical data and credentials and have access to the best cyber safety technologies in the world. The company is honored to support them in raising their end-point security standards through its technology. SPCB witnessed a nice surge in its cybersecurity sales during the fourth quarter, Ordan Trabelsi added.