BATM receives $2.3m cyber security orders

LEI: 213800FLQUB9J289RU66

26 March 2024

BATM Advanced Communications Limited

("BATM" or "the Group") 

BATM receives $2.3m cyber security orders for its solution and development of quantum key distribution integration

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 received additional cyber security orders with a total value of $2.3m, with delivery to commence immediately.

These orders are for the provision of the Group's advanced hardware and software-based cyber solution, as well as for developing a next-generation encryption solution including the integration of quantum key distribution, to its long-standing government defence department customer. Over the last 15 months, the Group's Cyber division has received orders totalling to $35m.

Moti Nagar, Chief Executive Officer of BATM, said: "We are pleased that the strong momentum experienced last year in our cyber business has continued into 2024. We are also excited about the progress that we are making in integrating quantum key distribution into our platforms, which reflects the ability of our highly skilled and experienced team in addressing the technological demands of the next computing era. As we continue to deliver our significant backlog of existing orders as well as receive new orders for our best-in-class cyber solution, we remain very confident in the prospects for this business."

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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, due to the risk factors that are detailed in the Group's Annual Report, 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.