World News: 12:11 GMT Tuesday 3rd December 2019. [Ability Inc. via Globe Newswire via SPi World News]
TEL AVIV, ISRAEL, Dec. 03, 2019 (GLOBE NEWSWIRE) -- 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”.
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 .
Globe Newswire: 12:11 GMT Tuesday 3rd December 2019
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