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

The order for additional hardware and software cybersecurity products comes after another follow-on order from the customer earlier this month
Contract
The new order will take the total contracted revenue for the solution to over US$13.3mln

BATM Advanced Communications Limited (LON:BVC) has been awarded an additional follow-on contract by one of its current customers, a government defence department, carrying a price tag of US$3.3mln.

BATM, which specialises in computer network technology and medical solutions, said the order was for additional hardware and software cybersecurity products and comes after another follow-on order from the customer earlier this month.

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

The new order will take the total contracted revenue for the solution to over US$13.3mln, BATM said.

Dr Zvi Marom, chief executive of BATM, said the additional order reflected the “significant opportunity” presented by the cyber security market.

“The interest in our cyber solutions is increasing and, thanks to the strength of our offer, we expect to receive further orders and are very excited about the future prospects for this business."

In a note to clients, analysts at ‘house’ broker ShoreCapital commented: “Cyber security is a pressing need for Governments and businesses alike and we note BATM’s growing presence in the area with a proven and referenceable solution backed by products and service capability.”

They added: “We retain our current forecasts for BATM for the current year and beyond for the present, we will review these on the forthcoming results for FY2018F.”

BATM said it would announce its results for the year ended 31 December 2018 on 6 March.

In afternoon trading, BATM shares were 1.2% higher at 46.5p.

- Adds analysts comment, updates share price --

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