Gilat Enters Strategic Agreement Valued at Tens of Millions of Dollars with a Large Government Corporation in Asia Pacific
Gilat Satellite Networks Ltd. (NASDAQ: GILT) has secured a multi-year managed-services contract valued at tens of millions of dollars with a major government corporation in the Asia Pacific region. This strategic agreement focuses on enterprise connectivity, allowing for nationwide coverage across various applications, including cellular backhaul and emergency-response services. The deal is expected to foster significant project expansions, leveraging Gilat's SkyEdge II-c technology.
- Secured a multi-year managed-services contract valued at tens of millions of dollars.
- Potential for significant project expansions enhances future revenue prospects.
- Leverages existing strong technical and management capabilities for project success.
- None.
The equipment and multi-year managed-services contract includes enterprise connectivity, with a large potential for expansion to additional applications
PETAH TIKVA, Israel, May 03, 2021 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today that Gilat entered a strategic agreement valued at tens of millions of dollars, including a potential for significant project expansions, with a large government corporation in Asia Pacific. The equipment and multi-year managed-services contract will enable connectivity for multiple applications across the nation.
Gilat is responsible for building and operating the network to provide nationwide coverage for a range of applications. These include, but are not limited to enterprise applications, with strong opportunities for cellular backhaul, emergency-response and mobility applications such as Comms on-the-move and Comms on-the-pause. Gilat's multi-service single platform, SkyEdge II-c and its wide set of fine-tuned VSATS, will answer the government's requirement for robust connectivity to the country's most remote areas.
"This strategic partnership follows successful delivery over the past years and will leverage Gilat's strong technical and management abilities for robust solutions," said Abhay Kumar, Regional Vice President, APJ at Gilat. “Gilat is fully committed to the project's success and is dedicated to help deliver the essential high-quality customer experience to address the needs of the people, as mandated by the Government Corporation."
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, Director Corporate Communications
DoreetO@gilat.com
GK Investor and Public Relations
Ehud Helft, Managing Partner
ehud@gkir.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4d9f6a2c-4830-48a9-a072-9d1ee636e814
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