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SuperCom Closes Acquisition of Israeli Cyber Security Firm Prevision.

MANews-(C)2009-2015

19 November 2015 - Israel-based e-government and mobile payments software company SuperCom (NASDAQ: SPCB) has closed its acquisition of Israel-based Prevision Ltd. as part of its strategy to offer complimentary security products and solutions to its customer base, the company said.

The deal was announced in January

In consideration for the acquisition, SuperCom paid USD 1.1m in cash and a contingent annual earn-out of approximately USD 250,000 for the next four years.

The company used current working capital to finance the deal.

Prevision is an international provider of cutting edge cyber security services and solutions based on leading methodologies and best practices in information security and cyber doctrine.

The company specialises in protecting strategic assets for governments, militaries and large enterprises in various domains, with a customer portfolio in Israel, South America, Europe and Asia.

Since 1988, SuperCom has been a global provider of traditional and digital identity solutions, providing advanced safety, identification and security solutions to governments and organisations, both private and public, throughout the world.

Country: Israel

Sector: Computer Software

Target: Prevision Ltd

Buyer: SuperCom

Deal size in USD: 2.5m

Type: Corporate acquisition

Financing: Cash

Status: Closed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Geographic Code:7ISRA
Date:Nov 19, 2015
Words:197
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