Gilat Signs Service Agreements of Over $16 Million for Operating Transport-Networks to Support Broadband Services in Peru

Rhea-AI Summary

Gilat Satellite Networks has signed agreements worth over $16 million to provide broadband transport services in Peru over a two-year period. This initiative aims to enhance broadband connectivity in regions such as Ayacucho, Apurímac, and Huancavelica, complementing previous efforts in the Cusco region. This project aligns with Gilat's strategic goal of expanding services across all six operational regions in Peru, showcasing their commitment to improving regional communications infrastructure.

Positive

• Secured agreements exceeding $16 million for two years of services.
• Expansion of broadband services into three new regions in Peru.
• Supports Gilat's strategy to enhance regional communications.

Negative

• None.

Gilat to provide services over a two-year period for the regional broadband transport networks

PETAH TIKVA, Israel, Oct. 07, 2021 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today that it signed agreements of over $16 million for operating the regional transport-networks to support broadband services in Peru. Gilat to provide services over a two-year period.

"The outstanding achievement of providing broadband services for the transport networks for the regions of Ayacucho, Apurímac and Huancavelica is in addition to the previously announced Cusco region," said Arieh Rohrstock, Corporate SVP and General Manager Gilat Peru. "This is a huge step in materializing Gilat's strategy to provide services to the transport networks of all six regions that Gilat operates."

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 is the value of the new contracts signed by Gilat?

Gilat signed agreements worth over $16 million.

How long will Gilat provide services under the new agreements?

Gilat will provide services over a two-year period.

Which regions in Peru will benefit from Gilat's broadband services?

The regions of Ayacucho, Apurímac, and Huancavelica will benefit.

What does Gilat aim to achieve with these agreements?

Gilat intends to enhance broadband connectivity in six operational regions in Peru.

When was the announcement about Gilat's new agreements made?

The announcement was made on October 7, 2021.