REG - BATM Advanced Comm - Commercial markets cybersecurity partnership

Batm Advanced CommunicationsAnnouncement

02/07/2024 07:00

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RNS Number : 6899U  BATM Advanced Communications Ld  02 July 2024

LEI: 213800FLQUB9J289RU66

2 July 2024

 

BATM Advanced Communications Limited

("BATM" or the "Group")

 

Commercial markets cybersecurity solution partnership with global powerhouse

Major milestone achieved with signing of strategic partnership agreement to
sell BATM's advanced cybersecurity solution to commercial markets globally

 

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 strategic partnership and cooperation agreement with a
significant global technology, engineering and defence group (the "Partner")
to deliver the Group's advanced cybersecurity solution to commercial markets.
The Partner generated revenue of over $10bn in 2023 and serves customers in
more than 100 countries, with operations spanning Asia, Europe, the Middle
East and the U.S.

 

With this agreement, the Group will customise its advanced encryption platform
to meet the requirements of its Partner, with the development work being
funded by the Partner. The customised platform will be distributed globally by
the Partner, with exclusivity in certain territories, to a variety of
commercial markets and for critical national infrastructure. This agreement,
and the corresponding launch of a cyber solution for the commercial markets,
represents a significant increase in the Group's addressable market, which the
Group's cyber solution is well-positioned to target thanks to the Partner's
substantial network and commercial reach.

 

BATM's encryption platform is a hardware and software solution that secures
data-in-transit at high speeds across a network. It incorporates the Group's
hardware security module, which provides enhanced hardware-based protection of
encryption keys, which is becoming increasingly important due to the growing
number of attacks targeting weak links in the supply chain, such as the
equipment vendors. It offers seamless integration with Quantum Key
Distribution systems to provide customers with protection against the emerging
quantum computing threats. In addition, the Group expects it to be the only
commercially-available encryption platform to offer a mix of speeds, enabling
customers to grow their network without replacing the platform.

 

Over the next two years, the Group will receive a minimum of $2.1m from the
Partner for the product customisation phase and the provision of an initial
quantity of units, which will be delivered in three phases over the two years.
The Group is due to commence delivering the units to the Partner by the end of
the first half of 2025.

 

Moti Nagar, Chief Executive Officer of BATM, said: "To be partnering with such
a large, well-established and global organisation to deliver our cutting-edge
encryption platform to the commercial markets is transformational for BATM
Cyber and is a fantastic endorsement of our solution. The introduction of a
cybersecurity offering for non-governmental customers has long been an
important objective for BATM, and this collaboration significantly boosts our
commercial market entry by providing worldwide distribution networks and a
partner with the resources to engage in considerable sales & marketing
activities. We look forward to working closely with our strategic partner in
the fulfillment of this agreement, which we expect to serve as a prominent
catalyst for the growth of our cyber business in the near future."

 

Enquiries

 

 BATM
 Moti Nagar, Chief Executive Officer                            +972 9866 2525
 Ran Noy, Chief Financial Officer

 Shore Capital
 Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)  +44 20 7408 4050

 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, 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.

 

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