LEI: 213800FLQUB9J289RU66
2 July 2024
BATM Advanced Communications
Limited
("BATM" or the
"Group")
Commercial markets
cybersecurity solution partnership
with global
powerhouse
Major milestone achieved with
signing of strategic partnership agreement to sell BATM's advanced
cybersecurity solution to commercial markets
globally
BATM (LSE: BVC; TASE: BVC), a leading
provider of real-time technologies for networking solutions and
medical laboratory systems, is pleased to announce that
it has signed a strategic partnership and cooperation agreement
with a significant global technology, engineering and defence group (the
"Partner") to deliver the Group's advanced cybersecurity solution
to commercial markets. The Partner
generated revenue of over $10bn in 2023 and serves customers in
more than 100 countries, with operations spanning Asia, Europe, the
Middle East and the U.S.
With this agreement, the Group will
customise its advanced encryption
platform to meet the requirements of its
Partner, with the development work being funded by the Partner. The
customised platform will be distributed globally by the Partner,
with exclusivity in certain territories, to a variety of commercial
markets and for critical national infrastructure. This agreement,
and the corresponding launch of a cyber solution for the commercial
markets, represents a significant increase in the Group's
addressable market, which the Group's cyber solution is
well-positioned to target thanks to the Partner's substantial
network and commercial reach.
BATM's encryption platform
is a hardware and software solution that secures data-in-transit at
high speeds across a network. It incorporates the Group's hardware
security module, which provides enhanced hardware-based protection
of encryption keys, which is becoming increasingly important due to
the growing number of attacks targeting weak links in the supply
chain, such as the equipment vendors. It offers seamless
integration with Quantum Key Distribution systems to provide
customers with protection against the emerging quantum computing
threats. In addition, the Group expects it to be the only
commercially-available encryption platform to offer a mix of
speeds, enabling customers to grow their network without replacing
the platform.
Over the next two years, the Group
will receive a minimum of $2.1m from the Partner for the product
customisation phase and the provision of an initial quantity of
units, which will be delivered in three phases over the two years.
The Group is due to commence delivering the units to the Partner by
the end of the first half of 2025.
Moti Nagar, Chief Executive Officer of BATM,
said: "To be partnering with such a
large, well-established and global organisation to deliver our
cutting-edge encryption platform to the commercial markets is
transformational for BATM Cyber and is a fantastic endorsement of
our solution. The introduction of a cybersecurity offering
for non-governmental customers
has long been an important objective for BATM, and
this collaboration significantly boosts our commercial market entry
by providing worldwide distribution networks and a partner with the
resources to engage in considerable sales & marketing
activities. We look forward to working closely with our strategic
partner in the fulfillment of this agreement, which we expect to
serve as a prominent catalyst for the growth of our cyber business
in the near future."
Enquiries
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BATM
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Moti Nagar,
Chief Executive Officer
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+972 9866
2525
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Ran Noy,
Chief Financial Officer
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|
Shore
Capital
|
|
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Mark Percy,
Anita Ghanekar, James Thomas (Corporate Advisory)
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+44 20 7408
4050
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Gracechurch
Group
|
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Harry
Chathli, Claire Norbury
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+44 20 4582
3500
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Forward-looking
statements
This document contains forward-looking statements. Those
statements reflect the current opinions, evaluations and
estimations of the Group's management, and are based on the current
data regarding the Group's business as is detailed in this document
and in the Group's periodical, interim and immediate reports. The
Group does not undertake any obligation or make any representation
that actual results and events will be in line with those
statements, and stresses that they may differ materially from those
statements, due to changes in the Group's business, market,
competition, demand for the Group's products or services, general
economic factors or other factors that can influence the Group's
business and results, due to the risk factors that are detailed in
the Group's Annual Report, and due to information and factors that
are currently unknown to the Group's management and that, if known,
would affect the management's opinions, evaluations or estimations.
The Group will report the actual results and events according to
its legal, accounting and regulatory obligations, and does not
undertake any other obligation to report them or their deviations
from the forward-looking statements, or to update any of the
forward-looking statements in this document or to report that it is
not valid anymore.
