Israeli satellite networking technology, solutions and services company Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) has announced that AXESS has awarded it a multi-million dollar deal for cellular backhaul (CBH) projects in Mexico. The project will power network expansion for two of the key Mobile Network Operators (MNOs) in Mexico. Gilat's cellular backhaul solution over satellite enables connectivity for hundreds of sites will support bridging the digital divide throughout Mexico.
Gilat's share price was up over 305 on news of the deal giving a market cap of $532 million.
Gilat's multi-application, scalable SkyEdge II-c platform is being leveraged by AXESS to broaden and expand its service. In addition to CBH projects, AXESS has been providing service to an assortment of industries including: Oil & Gas, Retail, Mining as well as for Corporate and Internet Connectivity.
AXESS VP operations Pablo Hoyos said, "AXESS chose Gilat due to its leading technology, global expertise and local presence, for providing services to two of the most important cellular connectivity projects in Mexico. These CBH projects follow the ongoing successful CBH, enterprise and government projects powered by Gilat and are testament to our confidence in Gilat's multi-application platform, enabling us to most efficiently support our satellite connectivity needs, addressing large projects in Latin America."
Gilat regional VP Latin America Tobias Dezordi said, "Gilat is the leading global provider of cellular backhaul over satellite and is pleased to continue to grow its mobile connectivity presence in Latin America, further to supplying enterprise and government solutions in this region."
Published by Globes, Israel business news - en.globes.co.il - on January 19, 2021
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