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PETAH TIKVA, Israel, July 26, 2017 -- Gilat Satellite Networks Ltd. (NASDAQ:GILT) (TASE:GILT), a worldwide leader in satellite networking technology, solutions and services, announced today that it received orders of USD 11.4 Million, net of local taxes, to provide state-of-the-art communication solutions and technologies for the satellite-based broadband network, to serve the Brazilian Geostationary Satellite of Defense and Strategic Communications – SGDC.
The SGDC will cover all of Brazil’s territory and will enable Telebras to fulfill the Brazilian Governmental National Broadband Plan public policy. The Brazilian satellite - SGDC is planned to provide fast and affordable broadband communication to commercial and government entities.
“Gilat is the satellite communication pioneer in Brazil and this turnkey project with Telebras is testament to our commitment to this market and to Gilat’s strategic direction in support of broadband satellite communication delivery to all,” said Russell Ribeiro, Gilat LATAM's Regional Vice President. “We are looking forward to continued collaboration with Telebras in providing broadband connectivity across Brazil.”
About Telebras
Telebras (BOVESPA:TELB3.SA) (BOVESPA:TELB4.SA) is a telecommunications company of the Brazilian government, which aims to implement the national broadband plan, in addition to being the executing arm of public telecommunications policies in Brazil, with the task to universalize the broadband Internet access within the country.
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-look ng 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 [email protected] Comm-Partners LLC June Filingeri, President 203-972-0186 [email protected]
