Vuance in $13.8m agreement to secure European airport

Talk about RFID technology: Qadima, Israel-based Vuance (formerly SuperCom), which also has offices in McLean, Virginia, is a provider of incident management and active RFID solutions to homeland security, public safety, and commercial sectors. Today it announced that it has entered into an agreement with an unnamed European international airport to provide an integrated perimeter security system and a border control system for a total of $13.8 million. Building of the security and control system will begin during the third quarter of 2007. Revenues from the contract will be recognized over the next two years, but Vuance has already received a substantial portion of it as an advance payment. Once the system has been implemented, the company expects an additional eight-year maintenance agreement that could generate an additional $750,000 in annual revenues. Eyal Tuchman, CEO of Vuance, said that “This contract demonstrates our abilities to address the need for effective perimeter security and border control at international airports and other venues, and to provide our solutions where the safety and security of personnel, passengers and facilities are of critical importance.”