BATM Advanced Communications Ld BATM receives $10m cyber security contract (0859E)
July 05 2021 - 1:00AM
UK Regulatory
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 +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
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