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  • Gilat Satellite Networks Ltd. (GILT) Subsidiary Wins Multi-Year, Multi-Site Service Contract From One Of The World's Leading Delivery Service Organizations 0 comments
    Feb 13, 2013 2:28 PM | about stocks: GILT

    Gilat Satellite Networks, a global leader in satellite networking technology, solutions, and services, announced that its wholly owned subsidiary Spacenet, a prominent supplier of managed network and data security services, recently won a 5-year base contract to upgrade and provide network connectivity to over 5,700 locations for the world's leading delivery service organizations. The contract is valued at more than $20 million including an option to extend the 5-year base period of performance for three additional 3-year periods. If the option is exercised, the length of the contract will swell to 14 years.

    The delivery service organization has granted this contract as part of a significant initiative to reduce overall operating costs, while also providing a better user experience at each location. The contract stipulates that Spacenet will service more than 1,900 sites with broadband connectivity and over 3,800 sites with VSAT, satellite-based technology.

    "For more than a decade, Spacenet has provided a variety of managed network services to this organization," said Spacenet President and CEO, Glenn Katz. "Our knowledge and experience with satellite-based services long enabled our client to provide high-speed connectivity at locations out of reach of terrestrial networks. Now, like many organizations having geographically disparate locations, this organization is embracing the expansion of cost-effective broadband options all across the country and has selected Spacenet as one of its vendors to achieve its goals. Our broad portfolio of network offerings, industry relationships and technology-neutral approach enables Spacenet to offer optimal solutions on a site-by-site basis."

    Upon signing the contract, Spacenet immediately started work on the sites, and expects its client to realize benefits in cost savings and improved throughput, coupled with a long-term overall total cost of network ownership.

    For further information, please visit www.spacenet.com

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    Stocks: GILT
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