Gilat Satellite Networks Receives Multimillion Service Contract from Leading Satellite Operator in APAC region
Gilat Satellite Networks (NASDAQ, TASE: GILT) has secured a multimillion-dollar contract extension with a leading satellite operator in the Asia-Pacific (APAC) region. The 12-month extension involves Gilat continuing to manage and maintain the operator's satellite communications infrastructure, ensuring enhanced network performance and reliability for the operator's service coverage.
This agreement supports connectivity services to rural and underserved areas in the APAC region. Ron Levin, Gilat's CCO, expressed satisfaction with the continued collaboration, emphasizing the trust placed in Gilat's technology by their partners.
Gilat Satellite Networks (NASDAQ, TASE: GILT) ha ottenuto un contratto di estensione multimilionario con un operatore satellitare leader nella regione Asia-Pacifico (APAC). L'estensione di 12 mesi prevede che Gilat continui a gestire e mantenere l'infrastruttura di comunicazione satellitare dell'operatore, assicurando prestazioni di rete migliorate e affidabilità nella copertura dei servizi dell'operatore.
Questo accordo supporta servizi di connettività per aree rurali e svantaggiate nella regione APAC. Ron Levin, CCO di Gilat, ha espresso soddisfazione per la continua collaborazione, sottolineando la fiducia riposta nella tecnologia di Gilat da parte dei loro partner.
Gilat Satellite Networks (NASDAQ, TASE: GILT) ha conseguido una prórroga de contrato multimillonaria con un operador satelital líder en la región de Asia-Pacífico (APAC). La prórroga de 12 meses implica que Gilat continúe gestionando y manteniendo la infraestructura de comunicaciones satelitales del operador, asegurando un mejor rendimiento y fiabilidad de la red para la cobertura del servicio del operador.
Este acuerdo apoya servicios de conectividad para áreas rurales y desatendidas en la región APAC. Ron Levin, CCO de Gilat, expresó su satisfacción por la colaboración continua, enfatizando la confianza que sus socios tienen en la tecnología de Gilat.
Gilat Satellite Networks (NASDAQ, TASE: GILT)는 수백만 달러 규모의 계약 연장을 아시아-태평양(APAC) 지역의 주요 위성 운영자와 체결했습니다. 12개월의 연장은 Gilat이 운영자의 위성 통신 인프라 관리 및 유지를 계속하도록 하여 운영자의 서비스 커버리지에 대한 네트워크 성능 및 신뢰성을 향상시킵니다.
이 협정은 APAC 지역의 농촌 및 소외 지역에 대한 연결 서비스를 지원합니다. Gilat의 CCO인 론 레빈(Ron Levin)은 지속적인 협력에 대한 만족감을 표명하며, 파트너들이 Gilat의 기술에 대한 신뢰를 표명하고 있음을 강조했습니다.
Gilat Satellite Networks (NASDAQ, TASE: GILT) a obtenu une prolongation de contrat de plusieurs millions de dollars avec un opérateur satellitaire de premier plan dans la région Asie-Pacifique (APAC). Cette prolongation de 12 mois prévoit que Gilat continue de gérer et d'entretenir l'infrastructure de communication par satellite de l'opérateur, garantissant ainsi une meilleure performance réseau et une fiabilité pour la couverture des services de l'opérateur.
Ce contrat soutient les services de connectivité pour les zones rurales et sous-desservies dans la région APAC. Ron Levin, CCO de Gilat, a exprimé sa satisfaction quant à la collaboration continue, soulignant la confiance accordée à la technologie de Gilat par leurs partenaires.
Gilat Satellite Networks (NASDAQ, TASE: GILT) hat eine mehrmillionenschwere Vertragsverlängerung mit einem führenden Satellitenbetreiber in der Asien-Pazifik-Region (APAC) gesichert. Die 12-monatige Verlängerung umfasst, dass Gilat weiterhin die Satellitenkommunikationsinfrastruktur des Betreibers verwaltet und wartet, um eine verbesserte Netzwerkleistung und Zuverlässigkeit für die Serviceabdeckung des Betreibers zu gewährleisten.
Diese Vereinbarung unterstützt Verbindungsdienste für ländliche und unterversorgte Gebiete in der APAC-Region. Ron Levin, CCO von Gilat, äußerte Zufriedenheit mit der fortgesetzten Zusammenarbeit und betonte das Vertrauen, das die Partner in die Technologie von Gilat setzen.
- Secured multimillion-dollar contract extension in APAC region
- 12-month extension of existing service agreement
- Continued trust from a leading satellite operator in APAC
- None.
Insights
This multimillion-dollar contract extension with a leading APAC satellite operator is a positive development for Gilat. It demonstrates the company's ability to retain key clients and secure recurring revenue streams. The 12-month extension provides short-term revenue visibility and reinforces Gilat's position in the competitive APAC market.
The focus on rural and underserved areas aligns with growing global initiatives to bridge the digital divide, potentially opening up more opportunities in this sector. However, the exact contract value and its impact on Gilat's overall financial performance remain undisclosed, limiting a comprehensive assessment.
Investors should note that while this contract is positive, Gilat's success will depend on its ability to secure additional contracts, expand its client base and continue innovating in satellite networking technology to stay competitive in a rapidly evolving industry.
The award supports connectivity services to rural and underserved areas
PETAH TIKVA, Israel, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today that it has secured a Multimillion contract extension to provide services for a leading satellite operator in the Asia-Pacific (APAC) region for an additional period of 12 months. The extended agreement highlights Gilat’s continued support in managing and maintaining the operator’s satellite communications infrastructure.
Through this contract extension, Gilat will continue to ensure enhanced network performance and reliability for the operator’s service coverage.
"We are pleased to continue our collaboration with one of the most prominent satellite operators in the APAC region," said Ron Levin, Gilat’s CCO. "This extension underscores the trust our partners place in our technology."
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: http://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 and Iran; and other factors discussed under the heading “Risk Factors” in Gilat’s most recent annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and Gilat undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise
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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