Bittium Corporation Launches Seamless and Secure Connectivity Program That Has Received EUR 10 Million Development Funding Granted by Business Finland
Seamless and Secure Connectivity Program develops an end-to-end seamless and secure connectivity and communication of the future jointly with the surrounding ecosystem.
Bittium Corporation, Stock Exchange Release, March 29, 2023, at 12:45 pm (CEST+1)
Bittium launches Seamless and Secure Connectivity Program, targeting to enable trustworthy, secure, and resilient end-to-end connectivity architectures and products including life-cycle services in various domains. Business Finland has granted the Program EUR 10 million development funding and, in addition, EUR 20 million funding for the ecosystem companies and research partners in the “Challenger” competition (“haastajakilpailu”) of leading companies (Veturi-yritykset) for the Program. The four-year Program led by Bittium will last until 2026. The funding is tied to the Program’s goals and is a maximum of EUR 10 million for Bittium and a maximum of EUR 20 million for the ecosystem companies, allocated over a period of four years. The Program will not change Bittium’s financial guidance for the year 2023, published in the Financial Statement Bulletin 2022.
For Bittium, the Program enables comprehensive development of the company's strategically significant themes. These themes are e.g. encryption and information security technologies and remote medical diagnostics (ECG, EEG and sleep apnea), including measuring of biosignals, digitalization of services, increase of wireless and information secure connections.
Seamless and Secure Connectivity Program will focus in six themes, of which objectives are as follows:
"Seamless and secure communication will require the cooperation of various networks in the future in the field of public, private and related applications. The number of different terminal devices in the network, such as sensors, mobile devices and IoT devices, is growing very quickly, and the importance of their end-to-end information security is growing substantially. Seamlessness is enabled, for example, by utilizing alternative connectivity technologies and mobility solutions at the same time, so that the data-secure connection remains uninterrupted during the entire communication. On the other hand, the development of medical remote diagnostics, from devices to services, promotes cost-efficiency in the healthcare industry, faster diagnosis of people’s health or related problems, and significantly improves the eco-efficiency of the environment as it becomes more common," says Jari Partanen, Director of Quality, Environment and Technology Management at Bittium.
The ecosystem of the Seamless and Secure Connectivity Program will develop seamless digital structures, infrastructure, systems, and processes as well as cyber resilience suitable for the current, advanced 5th generation (5G advanced) and future 6G environments. In order to reach this goal, the perspective of overall development, from devices to services in the entire chain, must be taken into account.
Technologies and applications that are the development targets of the ecosystem, e.g. the overall wireless connectivity market, which is estimated to grow at an average annual growth rate of almost 13 percent until 2027 (Markets and Markets, Wireless Connectivity Market, 08/2022), on the other hand, the mobile communication security market is predicted to grow at a growth rate of more than 20 percent until 2030 ( Allied Market Research, Mobile Security market 04/2022). Medical device software is estimated to grow at an average of 22 percent, with the market growing up to USD 22 billion by 2027 (Deloitte, Future of Diagnostics 10/2022).
"Thanks to the funding granted by Business Finland, we are now able, in cooperation with the Finnish industry and research community, to launch the Seamless and Secure Connectivity Program that creates excellent conditions for the entire surrounding ecosystem to develop information-secure end-to-end connections enabling technologies and solutions. Through the eco-efficiency made possible by the development of remote diagnostics, the Program also supports sustainable development and strengthens the competitiveness of Finnish industry in the coming years," says Bittium Corporation’s CEO, Hannu Huttunen.
Oulu, March 29, 2023
Tel. +358 40 344 3507
Nasdaq Helsinki Oy
Bittium specializes in the development of reliable, secure communications and connectivity solutions leveraging its over 35-year legacy of expertise in advanced radio communication technologies. Bittium provides innovative products and services, customized solutions based on its product platforms and R&D services. Complementing its communications and connectivity solutions, Bittium offers proven information security solutions for mobile devices and portable computers. Bittium also provides healthcare technology products and services for biosignal measuring in the areas of cardiology and neurophysiology. Net sales in 2022 were EUR 82.5 million and operating profit was EUR 0.3 million. Bittium is listed on Nasdaq Helsinki. www.bittium.com