PETAH TIKVA, Israel, Nov. 18, 2019 (GLOBE NEWSWIRE) — Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today that it has reached a major landmark with the selection by SES for development and deployment of a global multiple application VSAT platform for its O3b mPOWER Medium Earth Orbit (MEO) communications system. This multi-million-dollar contract establishes Gilat as a significant Non-Geostationary Orbit (NGSO) player through the technological innovation of its multi-orbit GEO/NGSO platform.
“We are honored to be partnering again with SES, this time for their next generation O3b mPOWER system,” said Ron Levin, VP Mobility and Global Accounts at Gilat. “Gilat was selected due to our innovative ground segment design that significantly reduces cost per bit, our ability to deliver a step function in modem performance and our engineering capabilities to further optimize the platform to efficiently support SES’s O3b mPOWER communications system. We are proud to be at the forefront of ground networks for NGSO constellations together with SES, who paved the NGSO path with its O3b constellation and now continue to lead the pack with its O3b mPOWER network.”
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, 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. We undertake no obligation to update or revise any forward-looking statements for any reason. 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.
Contact:
Gilat Satellite Networks
Doreet Oren, Director Corporate Communications
[email protected]
Comm-Partners LLC
June Filingeri, President
+1-203-972-0186
[email protected]
