BATM receives $26m cyber security order

RNS Number : 0153M

BATM Advanced Communications Ld

09 January 2023

 

LEI:  213800FLQUB9J289RU66

9 January 2023

BATM Advanced Communications Limited

("BATM" or "the Group")  

BATM receives $26m cyber security order

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 substantial government cyber security order, with a value of $26m. The order is to be delivered within a maximum period of five years and will commence in the current year.

The order is from the Group's long-standing government defence department customer and is for the supply of the Group's high speed network cyber platform that integrates advanced equipment and software. It enables the deployment of secure networking in mission critical and national scale networks, to prevent cyber-attacks and the leak of confidential data.

Moti Nagar, Chief Executive Officer of BATM, said:

"This substantial order from our long-standing cyber security government customer demonstrates the underlying quality of, and demand for, our cyber solutions. This order is for our latest equipment that offers industry-leading advanced protection, reflecting the continued expansion and commercialisation of our wide IP portfolio. It also supports our visibility over revenue for this year and beyond. As governments and companies face increasingly pervasive cyber security threats from a broad range of actors, we expect to continue to receive more orders for our cyber products and demand to remain strong as we progress through 2023 and beyond."

Enquiries:

BATM Advanced Communications
Moti Nagar, Chief Executive Officer	[phone]
Shore Capital
Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)	[phone]
Gracechurch Group
Harry Chathli, Claire Norbury	[phone]

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, 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.

 

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