BATM receives orders of $2.4m for Edgility

LEI: 213800FLQUB9J289RU66

2 December 2024

BATM Advanced Communications Limited

("BATM" or "the Group") 

BATM receives orders of $2.4m for Edgility

Delivery of the Group's virtualisation and edge compute platform to commence to a Tier 1 Communications Service Provider

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 orders under an existing framework agreement to provide a Tier 1 Communications Service Provider (the "Customer") with its Edgility edge virtualisation platform and accompanying hardware. The orders are worth a minimum of $2.4m over a three-year period.

The Customer will deploy Edgility to fully virtualise, orchestrate and manage at scale its enterprise connectivity services provided to enterprise and small- to medium-sized businesses. The Group's platform will be replacing traditional appliance suppliers to enable the Customer to deploy a unified managed network experience across all applications, including AI applications.

The receipt of these orders follows Edgility completing a comprehensive certification process with the Customer, during which it met or exceeded all the required performance, security and scalability standards. Under the current agreement, the Group will deploy licences, along with accompanying uCPE hardware, with a minimum licence term of three years. Management believes there is potential for a significant year-on-year expansion and extension in the number and duration of Edgility licences the Group supplies as the Customer's business continues to grow.

Moti Nagar, Chief Executive Officer of BATM, said: "We are delighted to have secured these orders from a Tier 1 Communications Service Provider. It is a significant achievement, and we are proud that, following rigorous testing, we have been chosen to replace the Customer's incumbent network suppliers, which includes solutions provided by one of the world's largest telecom equipment manufacturers. This is testament to the strength of our offering and reflects increasing market recognition of its considerable advantages as well as growing Western concerns around the security risk posed by some competing technology providers. Accordingly, we are excited about our prospects for this activity and look forward to expanding our market share in this rapidly growing market."

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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.