Gilat Awarded Over $3M Follow-On Order for Public WiFi Service in Latin America
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Insights
The grant awarded to Gilat Satellite Networks for the expansion of public WiFi in Latin America represents a strategic investment in telecommunications infrastructure. By addressing the digital divide, the project aims to facilitate increased internet penetration in underserved rural areas, which historically have had limited access to such technology. The expansion of connectivity can stimulate local economies by enabling access to digital services, e-commerce and online education, which in turn could lead to increased revenue streams for Gilat as they capitalize on new user bases and potential future service contracts.
From a market perspective, this order could positively influence Gilat's stock valuation as investors may perceive the expansion as indicative of Gilat's competitive edge in providing satellite networking solutions in challenging terrains. The long-term benefits may include sustained revenue growth and potential market share increase as the company further entrenches itself in Latin America, a region with significant growth potential for digital services.
The investment in internet connectivity infrastructure in Latin America's rural areas has broader economic implications. Internet access is a key driver for economic development and by facilitating this access, Gilat is contributing to the potential uplift of entire communities. Improved connectivity can lead to the creation of new businesses, enhance educational outcomes and increase the competitiveness of local industries on a global scale.
However, the project's success hinges on the rate of technology adoption and the ability of local populations to leverage the new infrastructure for economic gain. The initiative could also face challenges such as maintaining affordability for end-users and ensuring that the infrastructure is resilient to local environmental conditions, which is important for the sustainability of the project's impact.
Expanding internet access in rural areas aligns with several United Nations Sustainable Development Goals (SDGs), such as Quality Education (Goal 4), Decent Work and Economic Growth (Goal 8) and Reduced Inequalities (Goal 10). Gilat's project can be seen as a step towards achieving these goals by enabling access to information and communication technologies (ICTs).
Despite the positive implications, it's important to monitor the environmental impact of installing new satellite infrastructure. The company should ensure that their operations are conducted in an environmentally responsible manner, minimizing the ecological footprint and considering the long-term sustainability of the project. This includes the responsible disposal or recycling of technological waste as the infrastructure is upgraded or replaced over time.
Government-sponsored Social Inclusion project enables internet connectivity in rural areas not supported by terrestrial networks
PETAH TIKVA, Israel, April 04, 2024 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today the award of more than
The public WiFi solution provided by Gilat is being extended by hundreds of sites and will play a crucial role in expanding internet access to thousands more people across rural areas where terrestrial infrastructure is limited or absent.
"We are thrilled to continue deploying advanced public WiFi infrastructure across Latin America,” said Hagay Katz, Chief Product and Marketing Officer, Gilat. "This follow-on order not only signifies our expertise in delivering scalable networking solutions but also emphasizes the significance of initiatives focused on social inclusion and digital empowerment."
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, secure end-to-end solutions and services for mission-critical operations, 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.
Our portfolio includes a diverse offering to deliver high-value solutions for multiple orbit constellations with very high throughput satellites (VHTS) and software-defined satellites (SDS). Our offering is comprised of a cloud-based platform and high-performance satellite terminals; high-performance Satellite On-the-Move (SOTM) antennas; highly efficient, high-power Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) and includes integrated ground systems for commercial and defense, field services, network management software, and cybersecurity services.
Gilat’s comprehensive offering supports multiple applications with a full portfolio of products and tailored solutions to address key applications including broadband access, mobility, cellular backhaul, enterprise, defense, aerospace, broadcast, government, and critical infrastructure clients 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, 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, including those related to the current terrorist attacks by Hamas, and the war and hostilities between Israel and Hamas and Israel and Hezbollah. 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
Hagay Katz, Chief Products and Marketing Officer
hagayk@gilat.com
EK Global IR
Ehud Helft, Managing Partner
ehud@ekgir.com
FAQ
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