Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) and British satellite communications company O3b Networks Ltd. to provide Ka-band base stations for O3b VSAT services to customers in emerging markets.
The agreement between the two parties ensures a range of hub, terminal and network management systems will be available to O3b customers for use on the fleet upon launch. Gilat's customized solution for O3b is based on Gilat’s existing SkyEdge II platform. Gilat’s solution will be available for O3b's service launch in mid-2013, and the companies are accepting pre-launch orders.
Gilat CEO Erez Antebi said, "Gilat and O3b are jointly paving the way to the commercialization of the Ka-band as a strong alternative for fiber technology, predominantly in underserved regions. We … regard O3b’s initiative as advancing Gilat’s strategic investment in Kaband technology."
Gilat's share price opens at $4.06 on Nasdaq today, giving a market cap of $166 million, after falling 0.3% on the TASE to NIS 15.15.
Published by Globes [online], Israel business news - www.globes-online.com - on February 14, 2012
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