HERZLIYA, Israel, March 3, 2016 /PRNewswire/ --
SuperCom (NASDAQ: SPCB), a global provider of secure solutions for the e-Government, Public Safety, HealthCare, and Finance sectors announced today that it has acquired Safend Ltd., a global data security company with a broad range of competitive and well-known encryption and data protection solutions. The acquisition is in line with SuperCom's stated strategy to offer complementary security products and solutions to its growing customer base.
Safend is an international provider of cutting edge endpoint data protection, guarding against corporate data loss and theft through content discovery and inspection, encryption methodologies, and comprehensive device and port control. Safend maps sensitive information and controls data flow through email, web, external devices and additional channels. Founded in 2003 and headquartered in Tel Aviv, Israel, Safend has over 3,000 customers in the United States, Europe, and Asia, and more than three million software license seats deployed by multinational enterprises, government agencies and small to mid-size companies around the globe.
Safend will also continue to provide full support, services and upgrades for its award winning Data Protection Suite, including Safend Discoverer, Safend Inspector, Safend Encryptor, Safend Protector, Safend Auditor, and Safend Reporter.
Mr. Gil Alfi, V.P. of Sales and Technologies at Safend commented, "We are excited to join SuperCom, which will provide Safend with new capabilities, resources and knowhow to further evolve our R&D efforts and allow us to increase the value of our current offerings and product portfolio. We look forward to developing new complementary products, while continuing to provide outstanding support and services to our global customer base of high quality enterprises and organizations."
"This synergistic and accretive acquisition provides us with new technology and an established customer base that will unlock new opportunities for SuperCom and strengthen our Cyber and Data Protection capabilities," commented Arie Trabelsi, CEO of SuperCom. "We continue to add more state-of-the-art solutions to sell to a growing installed customer base, while simultaneously expanding our addressable market."
Mr. Trabelsi added, "With growing security needs for nations and organization around the world, public and private organizations are increasingly looking for reliable partners to help them navigate this rapidly changing, unsecured environment. Our breadth of experience providing National Security solutions has positioned us very well as a trusted partner for a wide spectrum of demand in public security. With the addition of Safend capabilities, and their experienced team of security experts, we will be able to offer complementary cyber and data security solutions as part of our broad security offering. Additionally, we would be able to leverage Safend expertise and products to enhance security on our other existing product platforms in the IoT, secure payments, and e-Gov spaces."
Safend's average annual revenue in recent years as a subsidiary of Wave Systems Corp. was approximately $5 million with typical software licensing gross margins. The majority of these sales were generated through Wave Systems Corp. and its worldwide distribution network, which will no longer be available to distribute Safend products. Going forward, while the high level of service and support will continue as usual by the Safend team, new sales will be generated through Safend and SuperCom's global distribution channels. As a result of this transition, the level of annual revenues from Safend's products in the near future is uncertain, but expected to grow and exceed historical levels after proper absorption into the new sales channels.
In consideration for this acquisition, SuperCom will provide Safend up to $1.5m of working capital to support its activity and growth through a structured debt and equity vehicle,
Since 1988, SuperCom has been a leading global provider of traditional and digital identity solutions, providing advanced safety, identification and security solutions to governments and organizations, both private and public, throughout the world. Through its proprietary e-Government platforms and innovative solutions for traditional and biometrics enrollment, personalization, issuance and border control services, SuperCom has inspired governments and national agencies to design and issue secured Multi-ID documents and robust digital identity solutions to its citizens and visitors. SuperCom offers advanced, secure mobile payments ranging from mobile wallet to mobile POS, using a set of components and platforms to enable secure mobile payments and financial services. SuperCom is a global provider of a unique all-in-one field-proven RFID & mobile PureSecurity advanced solutions suite, accompanied by advanced complementary services for various industries, including healthcare and homecare, security and safety, community public safety, law enforcement, electronic monitoring, livestock monitoring, and building and access automation.
SuperCom's website: http://www.supercom.com
Safend: http://www.Safend.net This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded or followed by or that otherwise include the words "believes", "expects", "anticipates", "intends", "projects", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. Forward-looking statements in this release also include statements about business and economic trends. Investors should also consider the areas of risk described under the heading "Forward Looking Statements" and those factors captioned as "Risk Factors" in the Company's periodic reports under the Securities Exchange Act of 1934, as amended, or in connection with any forward-looking statements that may be made by the Company. These statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements arising from the annual audit by management and the Company's independent auditors. The Company undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.
Investor Relations Contact: Rob Fink Hayden IR +1-(646)-536-7331 / +1-(646)-415-8972 firstname.lastname@example.org
SuperCom Contact: Ordan Trabelsi, President, Americas Tel: +1-212-675-4606 email@example.com
Safend Contact: Gil Alfi, VP, Sales Tel: +972-542778666 Gil@Safend.net