Five Year Contract is Valued at $14.5 Million
PETAH TIKVA, Israel, March 28, 2011 (GLOBE NEWSWIRE) -- Gilat Satellite
Networks Ltd. (Nasdaq:GILT), a worldwide leader in satellite networking
technology, solutions and services, today announced that its wholly
owned subsidiary, Gilat to Home Peru S.A., has been awarded a new
contract by Peru's Agency for Promotion of Private Investment
(ProInversion) to provide Internet access and telephony services
throughout the country's rural regions.
A photo accompanying this release is available at
Valued at $14.5 million, the project is funded by Fondo de Inversion en
Telecomunicaciones (FITEL), and is the sixth contract the ministerial
agency has awarded Gilat in the past 12 years.
Gilat's solution is expected to connect over 770 communities across
rural Peru, allowing more than 215,000 people access to essential
"Gilat has been at the forefront of delivering communication services
in Peru for over a decade, and we are proud to be able to continue this
important work and improve the quality of life for rural Peruvians.
Through our repeated awards and successful service deployments in the
country, we are committed to making a significant contribution to
bridging the communication gap in the country," said Yair Shaharbany,
Gilat's VP Global Operations and Customer Service.
With over 8,500 active sites across the country, Gilat to Home Peru is
the leading provider of satellite communications in Peru.
The contract encompasses the provision of telecommunication services
for remote rural communities located throughout Peru's Apurimac and Ene
River Valleys and Camisea. The network is scheduled to be installed
within a year and to provide services over the following four years.
Gilat Satellite Networks Ltd. is a leading provider of products and
professional services for satellite-based broadband communications
networks worldwide. Gilat was founded in 1987 and has shipped over
750,000 Very Small Aperture Terminals (VSATs) to more than 85 countries
across six continents. Gilat's headquarters is located in Petah Tikva,
Israel. The Company has 16 sales and service offices worldwide. Gilat
develops and markets an expansive range of broadband satellite
solutions including high-performance VSATs under the SkyEdge(TM) and
SkyEdge II brands, low-profile antennas for satcom-on-the-move, under
the RaySat Antenna Systems and the StealthRay(TM) brands and next
generation solid-state power amplifiers for mission-critical defense
and broadcast satellite communications systems under the Wavestream
brand. Gilat's wholly-owned subsidiary, Spacenet Inc., is a leading
provider of managed services in North America to the business and
government segments. Visit Gilat at www.gilat.com.
The Gilat Satellite Networks Ltd. logo is available at
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.
The Photo is also available via AP PhotoExpress.
CONTACT: Karen Mazor
Phone: +972 54 22 88 039