Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) has signed an OEM purchase and global marketing agreement with WiMAX solutions provider Airspan Networks Inc. (Nasdaq: AIRN). Gilat will resell Airspan's WiMAX products worldwide, on a non-exclusive basis. Gilat did not disclose how much it expects to earn from the deal.
Gilat entered the WiMAX field a year ago. Airspan is a competitor of Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR) in WiMAX.
Gilat, a maker of satellite-based communications networks products, will now offer WiMAX-based solutions using Airspan products. The company said. "The new agreement will enable Gilat's customers to address their broadband wireless access and satellite communications needs through a well integrated 'one-stop-shop' solutions provider."
Airspan president and CEO Eric Stonestrom said, "We are excited to enter into this partnership with Gilat, who has a global reach into the world's high growth markets and which will allow us to further expand our distribution channels. It's a win-win situation for both companies and highlights the synergies to be realized between shared customers and similar types of applications."
Gilat fell 2% in early trading on Nasdaq today and fell 6.8% on the TASE.
Published by Globes [online], Israel business news - www.globes-online.com - on March 11, 2008
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