Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT) has been awarded more than $10 million for a five-year service project for 4G backhaul services in Latin America (LATAM).
The contract calls for providing coverage to half a million people in hundreds of sites in rural areas, with significant expansion potential valued at additional tens of millions of dollars over time.
Gilat is working closely with the government and the private sector to provide connectivity this year to hundreds of villages via the 4G network. Gilat is heavily engaged in supplying the population with broadband connectivity and access to applications such as e-health and e-education. Furthermore, four hundred additional villages are expected to be connected next year.
Executive Comment
“This contract is an important milestone and a vote of confidence in Gilat’s abilities to both improve internet speeds and extend coverage to hundreds of rural villages,” said Adi Sfadia, Gilat’s interim CEO. “Gilat is proud to play a significant role in closing the digital divide that is aligned with our vision to better the lives of people in Latin America as well as worldwide.”