Gilat Awarded Order of Over $7M from Tier-1 Mobile Network Carrier in APAC for 4G Cellular Backhaul Network Expansion

Rhea-AI Summary

Gilat Satellite Networks Ltd. (Nasdaq: GILT) announced a significant order exceeding $7 million from a leading mobile network carrier in the Asia Pacific region. This order aims to expand the carrier's 4G cellular backhaul network into rural areas lacking fiber access using Gilat’s advanced SkyEdge II-c Capricorn VSATs. The agreement highlights Gilat's technological prowess and commitment to enabling rapid, cost-effective network expansion, underscoring the confidence in their satellite solutions for enhancing connectivity.

Positive

• Secured a $7 million order for 4G cellular backhaul network expansion.
• Gilat's technology supports rural connectivity in areas lacking fiber access.
• Represents a strong vote of confidence in Gilat's satellite solutions.

Negative

• None.

PETAH TIKVA, Israel, July 14, 2022 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today it received an order in excess of $7 million from a Tier-1 mobile network carrier in the Asia Pacific (APAC) region for 4G cellular backhaul network expansion.

Gilat’s SkyEdge II-c Capricorn VSATs will be used for cellular backhaul over satellite, further propelling the growth of the mobile carrier’s 4G/LTE network into rural zones lacking fiber access.

“By enabling rapid and cost-effective network expansion, Gilat is helping this innovative mobile carrier to serve a growing base of customers and establish an enviable position in the industry,” said Michal Aharonov, Chief Commercial Officer at Gilat. “This follow-on order represents an important vote of confidence and another testament to the quality and effectiveness of our cellular backhaul over satellite solution.”

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. 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

GK Investor and Public Relations
Ehud Helft, Managing Partner
ehud@gkir.com

FAQ

What is the value of the order received by Gilat Satellite Networks from a Tier-1 mobile carrier?

The order received is valued at more than $7 million.

Which region will benefit from Gilat's satellite technology for cellular backhaul?

The Asia Pacific region will benefit from Gilat's satellite technology.

What technology is Gilat providing for the cellular backhaul network expansion?

Gilat is providing its SkyEdge II-c Capricorn VSATs for this expansion.

How does Gilat's order impact its position in the market?

The order enhances Gilat's market position by enabling rapid network expansion for its clients.