November 20, 2015 -
Biometrics and identity solutions provider SuperCom has completed the acquisition of cybersecurity firm, Prevision Ltd. for $1.1 million in cash and a contingent annual earn-out of approximately $250,000 for the next four years.
“This strategic, synergistic and accretive acquisition bolsters our value proposition with the ability to offer advanced Cyber Security services and capabilities as part of our comprehensive security solution,” said Arie Trabelsi, CEO of SuperCom. “Furthermore, we expect to leverage Prevision’s expertise to enhance the security levels in our existing product platforms and unlock synergies that will accelerate our growth.”
Prevision is is based in Herzliya, Israel and provides cybersecurity services and solutions to protect strategic assets for governments and large enterprises in areas including critical infrastructure, finance and telecom. They have a customer portfolio that includes clients in Israel, South America, Europe and Asia and generated approximately $2 million in revenues for the 12 month period ending December 31, 2014, with net income of approximately $0.5 million.
SuperCom also announced this week that it has named Shahar Marom as its acting Chief Financial Officer and Arnon Zilberman as its new Chief Information Officer. The company’s departing CFO, Simona Green, will continue to work with Mr. Marom during the transition period to ensure a smooth changeover.
Previously reported, SuperCom’s M2M division was awarded a contract with an undisclosed European government to deploy a biometrics-based electronic monitoring solution with the goal to develop a more comprehensive and transparent electronic surveillance platform to accurately track and monitor hundreds of enrollees in the country’s new probation program.