BATM Advanced Communications Ld BATM receives $10m cyber security contract (0859E)

TIDMBVC

RNS Number : 0859E

BATM Advanced Communications Ld

05 July 2021

LEI: 213800FLQUB9J289RU66

5 July 2021

BATM Advanced Communications Limited

("BATM" or "the Group")

BATM receives $10m cyber security contract

New contract for advanced cyber solution combining virtualisation protection

BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, announces that it has received a contract worth $10m from its long-standing government defence department customer for an advanced cyber security solution. The Group will commence delivery on the contract immediately, which is expected to complete in 2023.

The contract is for an advanced cyber security solution that comprises hardware and software. It includes a unique cyber defence capability for large volume high speed network traffic combined with elements of virtualisation protection developed under the Group's NFV offering. The contract was awarded after rigorous and lengthy trials of this solution by the customer and also follows the recent receipt of a $4.1m order for another of the Group's cyber solutions, as announced on 15 June 2021.

Dr Zvi Marom, CEO of BATM, said:

"We are thrilled to have been awarded this substantial contract for our best-of-breed system. This contract has been awarded after a rigorous testing process and comes closely after we received a significant order for another cyber security solution from the same customer. This demonstrates the strength of our cyber portfolio and the satisfaction of a customer with exacting standards. It is also reflective of the increasing return to normality and investment in IT infrastructure after the impacts of the pandemic.

"Separately, and as previously mentioned, we are in the process of integrating o ur cyber solutions into our NFV product and developing a version aimed beyond the defence industry, which will expand our addressable market. As a result, and combined with the increasing traction we are receiving in our existing market, we are excited about the future for our cyber activities and expect to receive more orders in the course of the year."

Enquiries:

 
BATM Advanced Communications 
Dr Zvi Marom, Chief Executive Officer                           [phone] 
Moti Nagar, Chief Financial Officer 
 
 
Shore Capital 
Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory) 
 Henry Willcocks (Corporate Broking)                            [phone] 
 
 
Luther Pendragon 
Harry Chathli, Claire Norbury                                   [phone] 
 

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July 05, 2021 02:00 ET (06:00 GMT)