PETAH TIKVA, Israel, Dec. 19, 2013 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq:GILT), a worldwide leader in satellite networking technology, solutions and services, today announced that it has been awarded a project valued at $30 million as part of the Integracion Amazonica Loreto initiative. The contract for the project is expected to be signed shortly.
The majority of the award is for the design, setup and implementation of the network, which is expected to be executed within the first year. The remainder is for the operation and maintenance of the network for a period of ten years.
In this project, Gilat will implement a high-capacity broadband network between Iquitos and the town of Isla Santa Rosa, to enable internet and telephony services for the inhabitants in 70 communities in the Loreto region.
"We are happy that Fitel has chosen Gilat again as the operator for this challenging project," said Erez Antebi, CEO of Gilat Satellite Networks. "We look forward to continuing our commitment and record of successful delivery to Fitel to bring communication services to the most remote areas of the country, while contributing to social inclusion, education, development and employment in these areas."
About Gilat
Gilat Satellite Networks Ltd. (Nasdaq:GILT) (TASE:GILT) is a leading provider of products and services for satellite-based broadband communications. Gilat develops and markets a wide range of high-performance satellite ground segment equipment and VSATs, with an increasing focus on the consumer and Ka-band market. In addition, Gilat enables mobile SOTM (Satellite-on-the-Move) solutions providing low-profile antennas, next generation solid-state power amplifiers and modems. Gilat also provides managed network and satellite-based services for rural telephony and Internet access via its subsidiaries in Peru and Colombia.
With over 25 years of experience, and over a million products shipped to more than 85 countries, Gilat has provided enterprises, service providers and operators with efficient and reliable satellite-based connectivity solutions, including cellular backhaul, banking, retail, e-government and rural communication networks. Gilat also enables leading defense, public security and news organizations to implement advanced, on-the-move tactical communications on board their land, air and sea fleets using Gilat's high-performance SOTM solutions. For more information, please visit us at 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. 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: David Leichner
Gilat Satellite Networks
+1 516 478 9697
davidle@gilat.com
