Ability Inc. Announces Entry into New Contracts
03 Dicembre 2019 - 1:11PM
Ability Inc. (Nasdaq: ABIL) (the “Company”), a leading provider of
innovative tactical and strategic communications intelligence
solutions, today announced that on November 29, 2019, it has
entered into, through its wholly-owned subsidiary Ability Computers
and Software Industries Ltd. (“ACSI”), into new contracts for
selling its strategic interception solutions.
According to the contracts, ACSI is expected to receive fees in the
aggregate amount of up to $9.0 million, subject to certain
approvals from local authorities and systems acceptances.
ACSI’s ability to collect cash and recognize
revenues from the contract is dependent upon successful technical
implementation and deployment of its solutions, and the ability to
successfully pass acceptance tests and obtain any applicable
regulatory approvals.
Anatoly Hurgin, the Company’s Co-Founder and
Chief Executive Officer, commented: “We are encouraged by the
ongoing interest in our solutions, and we are hopeful that this
interest will translate into additional transactions in the
future”.
About Ability Inc.
Ability Inc. is the sole owner of ACSI and
Ability Security Systems Ltd. Headquartered in Tel Aviv, Israel,
ACSI was founded in 1994, offering and providing advanced
interception, geolocation for cellular and satellite communication
and cyber intelligence tools used worldwide by Security and
Intelligence Agencies, Military forces, Law Enforcement Agencies
and Homeland Security Agencies. ACSI offers a broad range of lawful
interception, decryption, cyber and geolocation solutions for
cellular and satellite communication. State-of-the-art technology
underpins ACSI’s scalable offerings, which can be
tactical-and-portable, or strategic-and-fixed, depending on its
customers’ needs. Additional information regarding ACSI may be
found at http://www.interceptors.com.
Caution Regarding Forward-Looking Statements
Any statements contained in this press release
that do not describe historical facts may constitute
forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements include, among other thing, statements regarding the
acquisition. Forward-looking statements should not be read as a
guarantee of future performance or results and may not be accurate
indications of when such performance or results will be achieved.
Forward-looking statements are based on information that the
Company has when those statements are made or management’s good
faith belief as of that time with respect to future events, and are
subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward-looking statements. Factors that may
cause such a difference include, without limitation, risks and
uncertainties related to whether or not the Company will be
satisfied with its due diligence of the supplier and whether the
closing conditions related to the acquisition will be satisfied as
well as other risk factors detailed in the Company’s filings with
the SEC, and the acquisition may not be completed as contemplated
or at all. The Company assumes no obligation to publicly update or
revise its forward-looking statements as a result of new
information, future events or otherwise.
Contact at Ability:
Avi LevinCFO+972-3-6879777avi@ability.co.il
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