Israeli satellite networking technology, solutions and services company Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) announced today that it has been awarded a multi-million-dollar contract to provide mission critical telecom systems for 29 of Peru's airports. The award of a high-availability communication system was granted by CORPAC, the Peruvian Corporation of Commercial Airports and Aviation. This award follows Gilat's implementation of large government projects and positions Gilat for additional large deals in Peru.
Gilat will design, supply, implement and commission equipment for Communication Navigation and Surveillance (CNS) services in Peru's airports.
Gilat Peru general manager and corporate VP Arieh Rohrstock said, "Gilat was selected by CORPAC due to its proven execution capabilities of large-scale government projects. This project will open the door to additional large deals as we intend to deliver upon our strategy of significantly increasing business in Peru."
After a fallow period in terms of new orders, and the collapse of the acquisition by Comtech for $575 million, Gilat has received four major orders in the past few weeks and its share price has risen sharply. The share price has nearly tripled since October and yesterday Gilat's share price rose 11.35% on Wall Street to $11.35, giving a market cap of $730.4 million. The share is up a further 2.36% in premarket trading.
Published by Globes, Israel business news - en.globes.co.il - on February 4, 2021
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