LONDON: BATM Advanced Communications Ltd. (LSE: BVC; TASE: BVC) said Wednesday it has sold three of its non-core businesses, part of an ongoing strategy to streamline operations and concentrate on its core segments of network infrastructure, cybersecurity and diagnostics.
The divestments include Celitron, the company’s eco-medical unit in Hungary, and Zer Laboratories, which manages third-party prenatal diagnostic tests in Israel. Both had recorded multi-year losses and were designated for closure if not sold in 2025.
BATM said the deals, completed June 30, generated approximately $383,000 in cash and will significantly reduce future costs and operational commitments.
In a separate transaction, the company finalized the sale of its 51% stake in its Progenetics subsidiary for $2 million, as previously announced on March 5.
The London-listed tech group also said it will announce interim results for the six months ending June 30, 2025, on Aug. 18. CEO Moti Nagar and CFO Lior Miles will host a webinar for investors and analysts at 1 p.m. BST on Aug. 21.
“Our actions reflect our strategic intent to transform BATM into a streamlined organization focused on high-growth segments,” Nagar said. “We continue to pursue further divestments and M&A opportunities to accelerate momentum in our core divisions.”