Regions

Israel's SuperCom completes Smart ID buy

January 3
2:59 AM 2014

SuperCom has completed the acquisition of the Smart ID division of On Track Innovations. SuperCom is a company that provides Electronic Intelligence solutions for HealthCare, Public Safety, and National ID, according to a 4-Traders report.

According to a press release, Smart ID's operations, regional subsidiaries, key employees, products and technologies, software platforms, ID solutions, IP assets, and patents have been moved to SuperCom, the report stated.

Under the terms of the said deal, SuperCom is also acquiring high gross-margin contracts, proposals, leads, bids, and a good customer base and references worldwide, the report detailed.

Arie Trabelsi, Chief Executive Officer of SuperCom, said of the deal, "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."

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