Gilat Captures Greater Maritime Market Share in New Deal with Eurasian Satellite Service Provider

Rhea-AI Summary

Gilat Satellite Networks (Nasdaq: GILT, TASE: GILT) announced a strategic deal with a Eurasian satellite service provider aimed at enhancing maritime connectivity. This collaboration involves the deployment of Gilat's SkyEdge II-c platform to deliver reliable satellite communications for commercial fishing and maritime transport markets. The technology utilizes Gemini and Capricorn VSATs and positions Gilat as a leader in the maritime sector within the region, contributing to the company’s global mobility initiatives.

Positive

• Increased market share in the maritime sector with a new deal.
• Enhanced connectivity for commercial fishing and maritime transport markets.
• Use of advanced technology (SkyEdge II-c platform) with Gemini and Capricorn VSATs.

Negative

• None.

Gilat’s SkyEdge II-c platform to enable reliable satellite communications for commercial fishing and maritime transport markets

PETAH TIKVA, Israel, Jan. 13, 2022 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today that the Company has captured a greater share of the maritime market in a new deal with a Eurasian satellite service provider that is set to enable expanded maritime connectivity in the region.

Gilat’s SkyEdge II-c system, equipped with Gemini and Capricorn VSATs, will be used to deliver connectivity for vessels at sea, primarily providing broadband communication for commercial fishing and maritime transport market segments.

“Our penetration into the maritime market in Eurasia further fortifies Gilat's global mobility leadership in the satellite communication market," said Barak Lerer, Gilat's Regional Vice President for EMEA & Eurasia. “Maritime is an important strategic focus market for Gilat and we are proud of this achievement, capturing more of the market and enabling satellite communication for fishing, maritime transport, and other industries in Eurasia.”

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-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 recent deal did Gilat (GILT) announce regarding maritime connectivity?

Gilat announced a partnership with a Eurasian satellite service provider to enhance maritime connectivity using its SkyEdge II-c platform.

How does Gilat's SkyEdge II-c platform benefit the maritime transport market?

The SkyEdge II-c platform provides reliable satellite communications for commercial fishing and maritime transport, improving connectivity at sea.

What technologies are included in Gilat's new maritime communication deal?

The deal features Gilat's Gemini and Capricorn VSATs as part of the SkyEdge II-c system.

When was the press release about Gilat's maritime connectivity deal published?

The press release was published on January 13, 2022.

What is the significance of Gilat's deal for investors?

The deal signifies an increased market share and strategic growth in the maritime services sector, potentially benefiting investors.