Gilat Awarded $20 Million Cellular Backhaul Managed Service Contract Renewal and Expansion from Tier-1 MNO in the United Stat...
October 22 2020 - 7:06AM
Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide
leader in satellite networking technology, solutions and services,
announced today that it was awarded a $20 Million cellular backhaul
managed service three-year contract renewal and expansion from a
Tier-1 MNO in the United States. With this award, Gilat becomes the
MNO's sole vendor to provide the end-to-end services for LTE
backhauling and disaster-recovery, while replacing existing
satellite technologies.
This significant contract expansion was awarded to Gilat due to
its proven managed service expertise and unmatched LTE over
satellite technology. Gilat has also demonstrated unparalleled
capabilities in all three dimensions: technology, delivery and
operation. Gilat's superior technology ensures the required user
experience and enables a smooth transition to 5G, while the
delivery and day-to-day operational needs were met consistently and
professionally.
“We are delighted to have been selected by the US Tier-1 MNO for
this major three-year managed service contract renewal and
expansion, which is a testament to Gilat's strong service
capabilities in this area," said Michal Aharonov, Vice President
Global Broadband Networks at Gilat. “I am pleased that Gilat's
managed service strategy is materializing globally, securing
important contracts with major customers around the world."
About Gilat Gilat 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
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/6a7f73de-d98b-498d-a869-545075b85483
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