SuperCom to Acquire OTI´s Smart ID Division

SuperCom Ltd (OTCQB: SPCBF) announced today that it has signed a definitive agreement with On Track Innovations Ltd. to acquire OTI´s SmartID division, including employees, all contracts, software and other related technologies, patents and other IP assets. 

Following a successful conclusion of a due-diligence process, SuperCom will pay $10 million, with an earn-out mechanism of up to a further $12.5 million subject to various performance criteria and milestones. 

The acquired SmartID division has a strong presence throughout the world, with a broad range of competitive and well-known EID solutions, and technology.