Gilat Enters Strategic Agreement Valued at Tens of Millions of Dollars with a Large Government Corporation in Asia Pacific
May 03 2021 - 07:12AM
Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide
leader in satellite networking technology, solutions and services,
announced today that Gilat entered a strategic agreement valued at
tens of millions of dollars, including a potential for significant
project expansions, with a large government corporation in Asia
Pacific. The equipment and multi-year managed-services contract
will enable connectivity for multiple applications across the
nation.
Gilat is responsible for building and operating the network to
provide nationwide coverage for a range of applications. These
include, but are not limited to enterprise applications, with
strong opportunities for cellular backhaul, emergency-response and
mobility applications such as Comms on-the-move and Comms
on-the-pause. Gilat's multi-service single platform, SkyEdge II-c
and its wide set of fine-tuned VSATS, will answer the government's
requirement for robust connectivity to the country's most remote
areas.
"This strategic partnership follows successful delivery over the
past years and will leverage Gilat's strong technical and
management abilities for robust solutions," said Abhay Kumar,
Regional Vice President, APJ at Gilat. “Gilat is fully committed to
the project's success and is dedicated to help deliver the
essential high-quality customer experience to address the needs of
the people, as mandated by the Government Corporation."
About GilatGilat Satellite Networks Ltd.
(NASDAQ: GILT, TASE: GILT) is a leading global provider of
satellite-based broadband communications. With 30 years of
experience, we design and manufacture cutting-edge ground segment
equipment, and provide comprehensive solutions and end-to-end
services, powered by our innovative technology. Delivering high
value competitive solutions, our portfolio comprises of a cloud
based VSAT network platform, high-speed modems, high performance
on-the-move antennas and high efficiency, high power Solid State
Amplifiers (SSPA) and Block Upconverters (BUC).
Gilat’s comprehensive solutions support multiple applications
with a full portfolio of products to address key applications
including broadband access, cellular backhaul, enterprise,
in-flight connectivity, maritime, trains, defense and public
safety, all while meeting the most stringent service level
requirements. Gilat controlling shareholders are the FIMI Private
Equity Funds. For more information, please visit: www.gilat.com
Certain statements made herein that are not historical are
forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995. The words “estimate”, “project”,
“intend”, “expect”, “believe” and similar expressions are intended
to identify forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties. Many
factors could cause the actual results, performance or achievements
of Gilat to be materially different from any future results,
performance or achievements that may be expressed or implied by
such forward-looking statements, including, among others, risks
associated with the outbreak and global spread of the coronavirus
(COVID-19) pandemic; changes in general economic and business
conditions, inability to maintain market acceptance to Gilat’s
products, inability to timely develop and introduce new
technologies, products and applications, rapid changes in the
market for Gilat’s products, loss of market share and pressure on
prices resulting from competition, introduction of competing
products by other companies, inability to manage growth and
expansion, loss of key OEM partners, inability to attract and
retain qualified personnel, inability to protect the Company’s
proprietary technology and risks associated with Gilat’s
international operations and its location in Israel. For additional
information regarding these and other risks and uncertainties
associated with Gilat’s business, reference is made to Gilat’s
reports filed from time to time with the Securities and Exchange
Commission. We undertake no obligation to update or revise any
forward-looking statements for any reason.
Contact:Gilat Satellite NetworksDoreet Oren,
Director Corporate CommunicationsDoreetO@gilat.com
GK Investor and Public RelationsEhud Helft, Managing
Partnerehud@gkir.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4d9f6a2c-4830-48a9-a072-9d1ee636e814
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