Gilat Receives $12 Million Service Agreement for Operation of Transport Network in Cusco, Peru
September 13 2021 - 7:05AM
Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a
worldwide leader in satellite networking technology, solutions and
services, announced today that Gilat received a $12 million service
award for recurring revenues from broadband services in Cusco,
Peru. Operation & Maintenance for a three-year period will be
provided for the regional broadband transport network.
This contract of the regional broadband service
project follows the completion of the construction phase and
successful acceptance test, granted for Cusco, earlier this year.
Gilat is responsible for assuring high performance internet service
over 2,000 kilometers of fiber optic, including more than a hundred
communication nodes and data center.
"The operation & maintenance services for the transport
network of the Cusco region is an additional step in materializing
Gilat's strategy to provide this service to the transport networks
of all six regions that Gilat operates," said Arieh Rohrstock,
Corporate SVP and General Manager Gilat Peru. "We see this
significant achievement as opening the door for potential growth in
the additional regions and a significant milestone in bringing us
closer to achieving our target of $50 million dollars in annual
recurring revenues from Peru."
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,
Senior Director Corporate CommunicationsDoreetO@gilat.com
GK Investor and Public RelationsEhud Helft, Managing
Partnerehud@gkir.com
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