Yahoo Finance BATM: Tech firm partners with mystery defence group to target global markets
Tech firm BATM Advanced Communications has entered a partnership with a mystery technology and defence group in a move the company says will allow it to sell its advanced cybersecurity solution to global commercial markets.
London-listed BATM said its new partner – which hasn’t yet been named – generated revenue of over $10bn (£7.8bn) in 2023 and serves customers in more than 100 countries, with operations spanning Asia, Europe, the Middle East and the U.S.
BATM said it will customise its advanced encryption platform to meet the requirements of its partner, which will fund the development work.
The customised platform will be distributed globally, with exclusivity in certain territories, to a variety of commercial markets and for critical national infrastructure.
BATM said the partnership would represent a “significant increase in the group’s addressable market”, which it would be “well-positioned to target thanks to the partner’s substantial network and commercial reach”.
BATM CEO Moti Nagar 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 and 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.”
Over the next two years, BATM will receive a minimum of $2.1m (£1.6m) from its new 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.
BATM is due to start delivering the units to the partner by the end of the first half of 2025.
