SES and Gilat Expand Partnership with Multi-Million-Dollar Follow-on Order for High-Speed Modems

Rhea-AI Summary

Gilat Satellite Networks announced a multi-million-dollar follow-on order for high-speed modems from SES, enhancing their partnership. This order for high-throughput modems aims to provide multi Gbps connectivity targeting high-end services over SES's O3b and O3b mPOWER MEO constellations. The modems will enable SES to offer fiber-equivalent services for government and enterprise solutions. Amir Yafe, Head of Global Accounts at Gilat, emphasized the importance of this collaboration in meeting the increasing demand for low-latency global broadband connectivity.

Positive

• Multi-million-dollar follow-on order for high-speed modems expands partnership with SES.
• High-throughput modems will enable Gilat to support fiber-equivalent services for high-end clients.
• Collaboration aligns with the growing demand for affordable low-latency global broadband.

Negative

• None.

New modems will deliver multi Gbps throughput, targeting high-end services over SES’s O3b and O3b mPOWER MEO constellations

PETAH TIKVA, Israel, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announces that SES and Gilat are expanding their partnership with a multi-million-dollar follow-on order for high-speed modems. Gilat's modems will deliver multi Gbps throughput, targeting high-end services over SES’s O3b and O3b mPOWER MEO constellations. Gilat's high-throughput modems will support SES in delivering fiber-equivalent services for government and high-end enterprise solutions.

"Gilat highly values the strong partnership with SES and is pleased to further expand the collaboration, bringing to market high-end modems supporting O3b mPOWER's market segments," said Amir Yafe, Head of Global Accounts at Gilat. "Gilat shares SES vision on the need for a combination of GEO and Non-GEO Stationary (NGSO) constellations to address the growing demand for affordable low-latency global broadband connectivity."

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/d025e02c-4c01-457f-a88a-a293edd79f17

FAQ

What is the latest partnership announcement involving GILT?

Gilat Satellite Networks announced a follow-on order of high-speed modems from SES to enhance broadband services.

How will the new modems impact Gilat's services?

The modems will provide multi Gbps throughput for high-end services over SES's O3b and O3b mPOWER MEO constellations.

When was the follow-on order for modems announced?

The follow-on order was announced on November 9, 2020.

What are the benefits of the modems for SES and Gilat?

The modems will support SES in delivering fiber-equivalent services, enhancing market offerings to government and enterprise sectors.