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BATM inks first joint cybersecurity and networking contract with new armed forces customer

The company said the US$2mln contract would begin immediately and be delivered over an 18-month period, with further orders expected in the future
Cybersecurity network
The contract will include cybersecurity software from BATM’s Celare subsidiary and networking applications from its other subsidiary NGSoft

BATM Advanced Communications Limited (LON:BVC) has been awarded the first joint contract for its cybersecurity and networking services by a new armed forces customer.

The company said the US$2mln contract would begin immediately and be delivered over an 18-month period, with further orders expected in the future.

READ: BATM Advanced Communications says JV has received first tranche of US$14.5mln investment

The contract will incorporate cybersecurity software from BATM’s Celare subsidiary in addition to networking applications from its other subsidiary NGSoft.

Dr Zvi Marom, BATM’s chief executive, said the contract award had followed a “thorough, very demanding and lengthy proof-of-concept trial” where the customer had tested several solutions from major suppliers before choosing BATM’s offer.

“Receiving this contract from the armed forces is also validation that our solution can meet the most stringent security requirements. We look forward to delivering this project and to expanding our relationship with this customer."

READ: BATM clinches another follow-on cybersecurity contract from defence department customer

The contract win follows two follow-on deals in February with a defence department customer for BATM's cybersecurity solutions, which added around US$13.3mln in contracted revenues.

In a note to clients, Shore Capital, which has BATM as a house stock, said the win was "a further valuable reference contract" for the company.

In late-morning trading Tuesday, BATM shares were steady at 47.3p.

-- Adds broker comment and share price --

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