Gilat Satellite Networks (GILT) Vaults on Multi-Year Globe Contract

Gilat Satellite Networks Ltd. (NASDAQ: GILT) had a strong start to the trading week, on news Globe Telecom awarded Gilat a five-year, multi-million-dollar contract for managed service satellite backhaul for cellular services.

A release issued Monday said the contract will enable accelerated deployment for the mobile operator’s rapid network expansion throughout the Philippines.

The report also referenced that Gilat is to deliver its leading Satellite backhaul for Cellular Network as a managed service to provide data and voice services over 2G/3G/LTE to all regions requiring improved connectivity and broadband access, while maintaining a strict service level agreement (SLA). This service will enable Globe to provide voice and data coverage over satellite in the challenging terrain of the Philippines.

Gilat Regional Vice-President Abhay Kumar was quoted in the release as saying “We are honored to have been selected by Globe to support their vision of providing high quality internet services to all users in the Philippines.

“This project is closely aligned with Gilat’s strategy and investments to offer outstanding technological innovation as a managed service in support of telecom service providers who are seeking to provide their consumer and enterprise customers plentiful, quality and affordable broadband."

Globe Telecom is the leading full service telecommunications company in the Philippines, serving the needs of consumers and businesses across an entire suite of products and services including mobile, fixed, broadband, data connections, internet and managed services.
Shares in Gilat galloped 30 cents, or 5.3%, to $6.00 mid-morning Monday.