BATM Advanced Communications Ld BATM secures first tier 1 customer for NFVTime (2625X)
August 27 2020 - 1:00AM
UK Regulatory
TIDMBVC
RNS Number : 2625X
BATM Advanced Communications Ld
27 August 2020
LEI: 213800FLQUB9J289RU66
27 August 2020
BATM Advanced Communications Limited
("BATM" or "the Group")
BATM secures first tier 1 customer for NFVTime with multi-year
licensing agreement
Leading international telecommunications provider adopts the
Group's NFVTime solution for creating virtual networks
BATM (LSE: BVC; TASE: BVC), a leading provider of real-time
technologies for networking solutions and medical laboratory
systems, announces that it has a signed its first tier 1 customer
for its NFVTime virtual networking solution. The customer, which is
a leading telecommunications provider to multi-national enterprises
and communication service providers globally and is headquartered
in Asia, has entered a three-year licensing agreement, which
follows the completion of a successful proof-of-concept.
The customer will use the NFVTime operating system, which was
developed by the Group's wholly-owned Telco Systems subsidiary, to
create virtual networks for customers and for operators that its
services on a wholesale basis. The Group will receive a licence fee
for a minimum of three years for each deployment of NFVTime, with a
separate deployment required for each end customer (whether direct
or via an operator) that adopts the solution.
The Group believes that the potential market for NFVTime is
substantial. This new tier 1 customer alone serves enterprise and
wholesale customers, including hundreds of operators, in more than
160 countries and 3,000 cities across North and South America,
Asia, Europe, the Middle East and Africa. In addition, a s a
software solution, NFVTime can be deployed remotely, is extremely
scalable and carries a significantly higher margin than the Group's
traditional carrier Ethernet products.
Network function virtualisation ("NFV") enables network
functions to be run in software, with a single piece of equipment,
rather than requiring multiple pieces of physical hardware. This
reduces the time, cost and carbon footprint of service deployment
and management. NFV can also be a key element in leveraging the
benefits offered by 5G and Internet of Things. The Group believes
it is well-positioned to benefit from the expected demand for NFV
as NFVTime is one of few solutions that can operate on both
Arm-based and Intel-based architectures (with this new tier 1
customer intending to operate NFVTime on Intel's x86 processor
architecture).
Dr Zvi Marom, Chief Executive Officer of BATM, said: "This is
extremely significant for BATM as our first tier 1 customer for our
NFVTime solution. This agreement represents the achievement of a
fundamental milestone in the execution of our NFV strategy, and is
something we have been working towards for several years . It
follows a successful proof-of-concept, like what we recently
announced with Vodafone and Arm as well as many others, and we are
making good progress towards the potential contract stage with
those as well. We believe this agreement and the NFV market will
prove lucrative for BATM.
"The market for NFV is substantial as network carriers look
towards the rollout of 5G. Equally, COVID-19 has clearly
demonstrated the value of being able to deploy and manage network
services remotely. We believe that we are well-placed to succeed in
this market as one of few companies able to integrate with both Arm
and Intel architectures as well as having built an eco-system of
Virtual Network Functions around NFVTime over the last few years.
This new agreement, combined with the recent successful completion
of a proof-of-concept with Vodafone, gives us great confidence in
the prospects for NFVTime and we look forward to reporting on our
progress."
Enquiries:
BATM Advanced Communications
Dr Zvi Marom, Chief Executive Officer +972 9866 2525
Moti Nagar, Chief Financial Officer
Shore Capital
Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)
Henry Willcocks (Corporate Broking) +44 20 7408 4050
Luther Pendragon
Harry Chathli, Claire Norbury +44 20 7618 9100
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
CNTFLFSATVIRFII
(END) Dow Jones Newswires
August 27, 2020 02:00 ET (06:00 GMT)
Batm Advanced Communicat... (LSE:BVC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Batm Advanced Communicat... (LSE:BVC)
Historical Stock Chart
From Apr 2023 to Apr 2024