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BATM Shares Edge Higher on $3.5m Contract Win

Sam Boughedda trader
Updated 10 Nov 2021

BATM (LON: BVC) shares have risen Wednesday after it told investors it has been awarded a cyber security contract worth $3.5m. 

The technology firm said it expects to receive the full value of the contract in 2022.

Also Read: The Best UK Tech Stocks

The contract with the company's long-standing government defense department customer will see BATM provide hardware and software as part of its network cyber security solution.

Commenting on the contract, BATM CEO Dr Zvi Marom said: “We are delighted to have received a further order for this cyber solution from our long-standing defence department customer as the momentum in this part of the business continues. 

“In the last five months, we've been awarded over $17m in cyber contracts as governments resume investment in cyber solutions following the temporary diversion of resources during the pandemic. 

“We believe we have a unique best-in-class solution, but at the same time we continue to innovate to expand the applications of our cyber products. We remain very excited for the prospects of our cyber business and expect further orders in the near future.” 

BATM shares are currently priced at 87.8p, up just under 1%. Earlier in the session, they hit a high of 89.2p.

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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.