Gilat Signs Multi-Million Dollar Deal to Modernize and Expand Satellite Communications in Eurasia for Multiple Applications

Rhea-AI Summary

Gilat Satellite Networks (NASDAQ: GILT) has been selected by a major satellite service provider in Eurasia for a multi-million-dollar deal to enhance satellite communications using the SkyEdge II-c platform. This modernization will replace outdated equipment, consolidating legacy networks with new ones to improve coverage for maritime, land mobility, and consumer applications. The deal underlines a strengthened partnership and aims to provide a superior user experience across the region.

Positive

• Secured a multi-million-dollar contract to enhance satellite communications in Eurasia.
• Modernization of old equipment with SkyEdge II-c platform expected to improve service coverage.
• Strengthened partnership with a key satellite service provider in the region.

Negative

• None.

Gilat's SkyEdge II-c was chosen as the platform to enhance maritime, land mobility, and consumer applications

PETAH TIKVA, Israel, Dec. 29, 2021 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today that one of the largest satellite service providers in Eurasia, has chosen Gilat as the baseband vendor for its satellite network. The companies signed a multi-million-dollar deal that includes the provisioning of Gilat's SkyEdge II-c platform, which will be used to modernize and expand satellite communications throughout the region for a variety of applications including maritime, land mobility and consumer coverage.

Throughout this expansion and modernization, the old equipment will be replaced and legacy networks will be consolidated and unified with new networks running Gilat's SkyEdge II-c technology as the baseband to serve their satellite communication needs. Gilat will supply hubs with thousands of fixed and mobility VSATs. This will support expanded coverage over the entire region.

“This deal represents a new, important chapter in our relationship with the large satellite service provider," said Gilat Chief Commercial Officer Michal Aharonov. “Working together, we’ll unify and upgrade the satellite network to be consolidated with Gilat's leading-technology single-platform for multiple applications, thus providing a superior user experience to customers throughout 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 Satellite Networks secure?

Gilat Satellite Networks secured a multi-million-dollar deal to provide its SkyEdge II-c platform for a major satellite service provider in Eurasia.

How will the SkyEdge II-c platform benefit maritime and land mobility applications?

The SkyEdge II-c platform will modernize and expand satellite communications, improving coverage and service for maritime and land mobility applications.

What is the significance of the deal for Gilat and its investors?

The deal signifies a strengthened relationship with a large satellite service provider, which may enhance Gilat's market position and revenue potential in the region.