Tier-1 Telco in Latin America Awards Gilat Over $3M to Provide Broadband Connectivity in Support of Bridging the Digital Divide

Rhea-AI Summary

Gilat Satellite Networks (NASDAQ, TASE: GILT) has secured a $3 million contract from a Tier-1 Telco in Latin America to deploy thousands of VSATs in remote schools, enhancing broadband connectivity to support children's education. This initiative aims to bridge the digital divide in the region. The SkyEdge II-c network was selected for its proven experience in delivering high-quality connectivity. As Gilat continues to expand its footprint in Latin America, this project exemplifies its commitment to leveraging technology for universal access to education.

Positive

• Awarded a $3M contract to deploy thousands of VSATs, improving broadband connectivity in remote schools.
• Chosen for a project due to extensive experience in satellite broadband connectivity.

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• None.

Gilat will deploy thousands of VSATs in remote schools to further children's education in Latin America

PETAH TIKVA, Israel, April 26, 2021 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today that a Tier-1 Telco in Latin America awarded Gilat over $3M to provide broadband connectivity over satellite to support bridging the digital divide. The project includes thousands of VSATs to be deployed in remote schools to further children's education in Latin America and is expected to expand further.

Gilat's SkyEdge II-c network was chosen due to its vast experience and expertise in delivering high-quality broadband connectivity and in deploying tens of thousands of VSATs for Universal Service Obligation (USO) projects throughout Latin America and in the world at large.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eca0bc43-7312-40c8-a820-e0d1d0b18a44

"This award signifies another step in Gilat's achievements in Latin America," said Michal Aharonov, Senior Vice President Global Broadband Networks at Gilat. "We are excited with the opportunity to support our partners with our leading technology and to share a common vision of bridging the digital divide, by delivering broadband connectivity worldwide to those who need it most."

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

FAQ

What is the significance of the $3M contract awarded to GILT?

The $3M contract is significant as it enables GILT to deploy thousands of VSATs in remote Latin American schools, enhancing educational access through improved broadband connectivity.

How does GILT plan to bridge the digital divide in Latin America?

GILT plans to bridge the digital divide by deploying its SkyEdge II-c network and thousands of VSATs to provide essential broadband connectivity to remote schools.

When was the press release about GILT's new project published?

The press release regarding GILT's project was published on April 26, 2021.

What technology will GILT use for the broadband project?

GILT will utilize its SkyEdge II-c network, known for its high-quality broadband connectivity and capability in Universal Service Obligation projects.