SuperCom (NASDAQ:SPCOM) shares are trading higher after the company announced it won a new project in California.
This new project is valued at up to $4 million over a five-year period, consisting of a two-year initial term with three optional one-year extensions and is expected to generate annual recurring revenues of approximately $800,000.
SuperCom is an Israel-based provider of traditional and digital identity solutions, advanced IoT and connectivity solutions, and cybersecurity products and solutions to governments and private and public organizations throughout the world.
The stock was trading 6.53% higher at $1.47 at the time of writing. The stock has a 52-week high of $3.09 and a 52-week low of $0.71.
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