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BATM secures follow-on cyber security contract for government defence department

The group said the contract was its fifth awarded by a national government and carried a value of around US$3mln over the next 18 months
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BATM said the new order expanded the capability of its solution by adding more features

BATM Advanced Communications Limited (LON:BVC) said it has been awarded a ‘significant’ contract by a government defence department to supply enhanced cyber communication technology.

The group, which provides real-time technologies for networking solutions and medical laboratory systems, said the contract was the fifth awarded by a national government and carried a value of around US$3mln over the next 18 months.

WATCH: BATM lands 'significant' follow-on government contract

BATM added that the new order expanded the capability of its solution by adding more features, and that delivery of the new order would be completed in the second half of 2019, with further orders expected.

Dr Zvi Marom, BATM chief executive, said: "This new contract demonstrates our capability to widen the scope of our solutions and scale-up to provide even greater security. The interest in our cyber technologies' abilities to detect and investigate suspicious network activity and cyber threats continues to increase as governments and their defence agencies seek to prevent potential cyber attacks on their infrastructure and important institutions, as well as to secure their communications.

He added: There is an understanding that deploying the right cyber solution is a necessity in today's networked environment, and we expect further adoption of our solution by more clients as we receive increasing vindication of the strength of our offering with additional large-scale deployments."

In a note to clients, analysts at Shore Capital commented: "[W]e believe that BATM is successfully building a referenceable technology solution against cyber threats here...cyber solutions, with an increasingly proven suite of technologies over hardware and software components, are a major future growth opportunity for BATM, an area of potentially material client interest and need."

In late-afternoon trading, BATM shares were up 6.9% at 30p.

--Adds broker comment and share price--

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