24th Feb 2020 11:37
(Alliance News) - BATM Advanced Communications Ltd said Monday it has been awarded an additional cyber security contract from a long-standing government defence department customer.
The follow-on order - which is for the delivery of cyber security products as both hardware and software - is worth USD4 million, and is expected to be delivered in the second half of 2020.
Following the new order, total contracted revenue to date from the unnamed customer will be over USD18 million.
The most recent order from the company's long-standing customer was announced in October 2019, worth USD600,000.
"We are delighted to receive another order from this government defence department. The recurring contracts show the customer's satisfaction with our cyber security products and services and demonstrates the benefits that our solutions bring. We believe that there are unique advantages to our security systems and we look forward to continuing to expand our customer base for our cyber security offering," said Chief Executive Zvi Marom.
Shares in Hod Hasharon, Israel-based BATM were down 5.9% at 40.90 pence on Monday in London.
By Dayo Laniyan; [email protected]
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