Gilat Awarded Approximately $20 Million in Contract Renewal and Extension from Tier-1 MNO in the USA

Rhea-AI Summary

Gilat Satellite Networks has been awarded a renewal and extension contract worth approximately $20 million from a Tier-1 MNO in the United States. The multi-year agreement allows Gilat to continue as the end-to-end managed services provider for satellite-based cellular backhaul and emergency response for this long-term leading customer. Gilat is known for its superior technology in 4G cellular backhaul over satellite and its ability to smoothly transition to 5G and next-generation satellites.

Gilat continues to support this long-term Tier-1 customer with a multi-year end-to-end managed services contract for satellite-based cellular backhaul and emergency response

PETAH TIKVA, Israel, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today that it was awarded a renewal and extension contract of approximately $20 million from a Tier-1 MNO in the United States. In a multi-year agreement, Gilat is continuing as the end-to-end managed services provider of satellite-based cellular backhaul and emergency response for this long-term leading customer.

Gilat is the leading global 4G cellular backhaul over satellite solution provider demonstrating unparalleled capabilities in technology, delivery, and operation. Furthermore, Gilat’s superior technology enables a smooth transition to 5G as well as to next generation multi-orbit constellations and VHTS satellites.

“This significant contract renewal and extension follows a strong track-record with the Tier-1 MNO, and it is a testament to Gilat’s proven ability to provide the desired user experience with its renowned SkyEdge II-c platform, while consistently and professionally delivering on day-to-day operational needs,” said Yossi Gal, Vice President of Regional Sales at Gilat. “With proven expertise, a can-do attitude, and a winning global team, we endeavor to bring real value to our partners as we work together to provide innovative communication solutions to all reaches of the world.”

About Gilat

Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications.

With over 35 years of experience, we create and deliver deep technology solutions for satellite, ground and new space connectivity and provide comprehensive end-to-end solutions and services, powered by our innovative technology. We believe in the right of all people to be connected and are united in our resolution to provide communication solutions to all reaches of the world.

Delivering high value solutions, our portfolio is comprised of a cloud-based platform and high performance satellite terminals designed to work in harmony with satellite constellations, including Very High Throughput Satellites (VHTS) and Software-Defined Satellites (SDS) in multiple orbits; high performance Satellite On-the-Move (SOTM) antennas; and highly efficient, high-power Solid State Power 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, mobility, cellular backhaul, military, government, and enterprise, all while meeting the most stringent service level requirements. 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 Networks
Doreet Oren, Senior Director Corporate Communications
DoreetO@gilat.com

EK Global IR
Ehud Helft, Managing Partner
ehud@ekgir.com

FAQ

Who awarded the contract to Gilat Satellite Networks?

A Tier-1 MNO in the United States awarded the contract to Gilat Satellite Networks.

What is the value of the contract?

The contract is worth approximately $20 million.

What services will Gilat provide under the contract?

Gilat will provide end-to-end managed services for satellite-based cellular backhaul and emergency response.

What is Gilat known for?

Gilat is known for its superior technology in 4G cellular backhaul over satellite and its ability to transition to 5G and next-generation satellites.