(Sharecast News) - BATM Advanced Communications said on Monday 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 begin this year.
The order is from BATM's long-standing government defence department customer and is for the supply of its 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.
Chief executive Moti Nagar 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."
At 0940 GMT, the shares were up 6% at 32.85p.
Batm Advanced (BVC)