Tier-1 MNO Awards Multimillion-Dollar Order to Gilat for 4G Cellular Backhaul Network Expansion in Latin America

Rhea-AI Summary

Gilat Satellite Networks (Nasdaq: GILT, TASE: GILT) has secured a multimillion-dollar order from a Tier-1 mobile network operator in Latin America to provide its SkyEdge II-c platform with Capricorn VSATs for 4G cellular backhaul. This major contract will enhance the operator's extensive 4G network and is bolstered by Gilat's comprehensive technical support and installation services. The order underscores Gilat's reputation for reliability and the growing demand for satellite backhaul solutions in the telecommunications sector.

Positive

• Secured a multimillion-dollar order from a Tier-1 mobile network operator in Latin America.
• Will enhance 4G cellular backhaul capabilities for one of the largest networks in the region.
• Reinforces Gilat's reputation and customer confidence in its SkyEdge II-c platform.

Negative

• None.

PETAH TIKVA, Israel, July 19, 2022 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today it received a multimillion-dollar order from a Tier-1 mobile network operator (MNO) in Latin America.

Gilat is providing its globally-proven SkyEdge II-c platform with Capricorn VSATs for 4G cellular backhaul. The MNO will also benefit from Gilat’s world-class technical support services, operations assistance, and field installation services.

The MNO will leverage Gilat's backhaul over satellite equipment and services to expand their 4G cellular network, which is one of the largest in the region.

“As this customer grows its 4G network, Gilat is proud to provide them with the equipment and services needed for timely deployment, commissioning, and activation of their satellite backhaul services,” said Michal Aharonov, Chief Commercial Officer at Gilat. “Customers like this one are coming back to Gilat for further network extensions and this order represents another example of the confidence MNOs have in Gilat's CBH solution.”

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. 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 recent order received by Gilat Satellite Networks?

Gilat Satellite Networks has received a multimillion-dollar order from a Tier-1 mobile network operator in Latin America for its SkyEdge II-c platform.

How will the order affect Gilat's stock GILT?

The order is expected to positively impact Gilat's revenue and market positioning, potentially benefiting shareholders of GILT.

What services is Gilat providing with the new order?

Gilat is providing its SkyEdge II-c platform, Capricorn VSATs, technical support services, and field installation services.

When was the order from the Tier-1 mobile network operator announced?

The order was announced on July 19, 2022.