Last checked at 18 Oct 2022 07:00
LEI: 213800FLQUB9J289RU66
18 October 2022
BATM Advanced Communications Limited
("BATM" or "the Group")
BATM signs multi-year contract with CityFibre for Edgility
The UK's largest independent carrier-neutral Full Fibre platform commercially adopts the Group's virtual network and edge compute solution following successful pilot
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 multi-year contract with CityFibre, the UK's largest independent carrier-neutral Full Fibre platform, to begin the deployment of its Edgility virtual networking and edge compute solution, with this initial order expected to be worth $3.5 million. BATM expects this order to be rapidly followed by a substantial expansion in deployments as CityFibre rolls out Edgility to its full network.
As announced on 11 July 2022, CityFibre is piloting Edgility to test onboarding and in-life journeys for CityFibre's partners. Based on significant progress in the pilot phase, CityFibre is now proceeding to a scaled national roll-out, which will be implemented alongside the piloting project that continues to gather insight to support the national roll-out.
CityFibre is replacing its hardware-based customer premise routing equipment with a virtualised solution based on small-footprint white-box appliances (a multi-purpose device) operated by Edgility. For the initial order, as CityFibre begins the process, BATM will receive recurring licence fees for a five-year period plus certain hardware sales estimated to be worth a total of $3.5 million. The Group expects the number of end point deployments to be rapidly expanded to tens of thousands per year and believes the financial value of this partnership to the Group will grow substantially in the near-term as the volume of licences increases.
CityFibre builds and operates high quality Full Fibre digital infrastructure that enables wholesale customers to provide broadband, ethernet and 5G services. It serves over 1,500 business and consumer service provider partners. CityFibre recently completed one of Europe's largest ever Full Fibre financings with a £4.9 billion debt raise for a programme to bring Full Fibre infrastructure to up to 8 million premises, covering a third of the UK market, spanning 285 cities, towns and locations by 2025. Network construction is currently underway in over 60 cities with services live in more than 45 locations.
Dr. Zvi Marom, CEO of BATM, said: "When it comes to upgrading their networks, organisations are increasingly shifting from hardware-based to software-based solutions to enjoy the significant gains in efficiency as well as reducing their environmental impact. The commercial adoption of Edgility by CityFibre is a great validation of our technology, which we expect will lead to further orders from other businesses. This contract also has significant revenue potential with the prospect of expanding to cover CityFibre's entire infrastructure. We are very excited to be supporting them on their journey as they continue to rollout their full fibre network across the UK and look forward to working together to innovate service provision."
David Tomalin, Group CTO of CityFibre, added: "To support our digital transformation initiative, we selected BATM as a trusted customer edge compute partner that combines a strong innovation culture with a proven track record of virtualised edge device management at scale. Based on the strength of engagement, testing and market feedback from our Partner channel, we look forward to the innovation journey and improved customer experience powered by a virtualised customer edge compute platform."
Enquiries:
BATM Advanced Communications | |
Dr Zvi Marom, Chief Executive Officer | +972 9866 2525 |
Moti Nagar, Chief Financial Officer | |
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Shore Capital | |
Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory) | +44 20 7408 4050 |
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Gracechurch Group | |
Harry Chathli, Claire Norbury | +44 20 4582 3500 |
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.