PETAH TIKVA, Israel, June 28,
2018 /PRNewswire/ --
Gilat Satellite Networks Ltd. (NASDAQ: GILT) (TASE: GILT), a
worldwide leader in satellite networking technology, solutions and
services, announced today a new award by Peru's Fitel (Fondo de
Inversion en Telecomunicaciones / Telecommunications Investment
Fund) for two additional regional telecommunications infrastructure
projects totaling $153.6 million. The
Amazonas region was awarded for $108
million and the Ica region for $45.6
million. Gilat expects additional revenues to be generated
by selling network capacity to cellular carriers to address the
growing needs for voice, data, and internet in these regions, as
well as the development of platforms for e-learning, e-health and
e-government.
Fitel awarded the new regions of Amazonas and Ica to Gilat in
addition to the four telecommunications projects that are nearing
completion, in the regions of Huancavelica, Ayacucho, Apurimac and
Cusco. In the two additional regions, Gilat will build the
infrastructure required to support the Peruvian population
including connecting schools, police stations and health
centers.
"The fact that Gilat was awarded two additional regional
projects by Fitel for over $153
million testifies to the confidence placed in our ability to
deploy massive telecommunications projects under challenging
conditions," said Arieh Rohrstock, General Manager Gilat Peru and Corporate VP. "Gilat's interest
and long term goal with the six regions won so far, and potentially
additional future regional wins, is to turn Peru into a source of
secured, multi-year, significant, profitable revenue, generated
from both secure government fees as well as from selling services
such as e-learning, e-health and other OTT services."
"It is a pleasure to see the continued effort and materialization
of providing broadband through financing contracts, this time
delivering service to the Amazonas and Ica regions," said
Virginia Nakagawa, Vice Minister of
Communications, Peru. "Furthermore, I personally congratulate
ProInversion for executing a transparent and flawless process that
has successfully concluded by closing of these contracts with
Gilat."
About the Fitel Peru Award
Fitel's regional initiative represents the complementary phase
of the Peruvian National Fiber Backbone project, aimed to connect
rural villages to broadband services. Within the framework of this
phase, Gilat won the bid for regional projects – in Amazonas and
Ica.
The fiber-optic Transport networks will be built and transferred to
the Ministry of Telecommunications after a period of no more than
18 months, while the Access networks based on wireless technologies
will be built and operated by Gilat for 10 years.
In the frame of the Access network operation obligations, Gilat
will connect about 632 public institutions in 349 remote villages
to broadband services.
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-look ng 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, 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. We undertake no obligation to update
or revise any forward-looking statements for any reason. 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.
Contact:
Gilat Satellite Networks
Doreet Oren
DoreetO@gilat.com
Comm-Partners LLC
June Filingeri, President
203-972-0186
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SOURCE Gilat Satellite Networks