BATM Advanced Communications Ld ICT Framework Agreement (6599P)
September 04 2017 - 1:00AM
UK Regulatory
TIDMBVC
RNS Number : 6599P
BATM Advanced Communications Ld
04 September 2017
4 September 2017
BATM Advanced Communications Limited
("BATM" or "the Group")
BATM awarded $35.8m ICT services and solutions framework
agreement
First order of US$2.2m received
BATM Advanced Communications Limited (LSE: BVC), a leading
provider of real-time technologies for networking solutions and
medical laboratory systems, announces that its wholly-owned
subsidiary, NGSoft, a high-end software development and design
business within the Group's Networking & Cyber division, has
been awarded a framework agreement (the "Agreement"), valued at up
to US$35.8m over five years, to provide information communication
technology (ICT) services and solutions to an agency of a
government defence department. The Group has received the first
order under the Agreement worth US$2.2m with delivery to commence
imminently and complete in early 2018.
The US$35.8m Agreement was awarded after a lengthy competitive
tender process and forms one-half of the total US$71.6m budget
allocated by the government defence agency to procure these ICT
services and solutions over a five-year period.
Dr Zvi Marom, Chief Executive Officer of BATM, said: "We are
delighted to have been awarded this agreement following a
competitive tender process and to have received the first order so
quickly thereafter demonstrates the intent of the defence agency to
move forward with this project without delay. This significant
government contract provides further validation of the strength of
our offering. We look forward to delivering this initial project
and to expanding on it as well as receiving contracts from new
customers following the successful completion of proof-of-concept
trials in multiple countries."
Enquiries:
BATM Advanced Communications
------------------------------- -----------------
Dr Zvi Marom, Chief Executive
Officer +972 9866 2525
------------------------------- -----------------
Moti Nagar, Chief Financial
Officer
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Shore Capital
------------------------------- -----------------
Mark Percy, Anita Ghanekar +44 20 7408 4050
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Luther Pendragon
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Harry Chathli, Claire Norbury +44 20 7618 9100
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The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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