Ability Inc., 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.”
