THAICOM and Gilat Satellite Networks Announce Partnership Agreement
PETACH TIKVA, Israel, June 19, 2013 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (GILT), a worldwide leader in satellite networking technology, solutions and services and THAICOM Public Company Limited (SET BKK:THCOM), Asia's leading satellite operator announced today the signing of a Cooperation Framework Agreement.
As part of this agreement, the companies will provide customers across the Asia-Pacific region with an integrated solution using Gilat's satellite ground equipment in conjunction with THAICOM (THMNY.PK)-4 (IPSTAR) high throughput satellite.
"We are very pleased to sign the cooperation framework agreement with Gilat," stated Ms. Suphajee Suthumpun, Chairman of the Executive Committee and CEO of THAICOM. "Our two companies have a solid long term relationship as highlighted by the very successful collaboration in the National Broadband Network (NBN) project in Australia. This agreement will further strengthen our partnership in the region and provide a competitive solution for our customers."
This cooperation is another step in THAICOM's Open Access Platform (OAP) strategy, which allows technology equipment vendors to access THAICOM-4 (IPSTAR) high throughput satellite, providing customers with more choices and flexibility to better serve their requirements.
"The Asia-Pacific region is a significant growing market for Gilat," said Erez Antebi, CEO of Gilat Satellite Networks. "We are pleased to expand this very important partnership with THAICOM. We view this agreement as strategic for both Gilat and for our customers throughout the region. The increased cooperation will serve to bring our customers an even more attractive broadband satellite-based solution that combines our SkyEdge II-c platform and the IPStar satellite capacity."
THAICOM Plc. was established in 1991 with more than 20 years of experience in the satellite business. THAICOM is Asia's leading satellite operator with unique proposition in providing integrated solutions for satellite broadcast and broadband services. The Company has already launched five satellites since its inception. THAICOM 5 is a "Hot bird" broadcasting satellite for Thailand and SE Asia, boarding more than 470 TV channels. THAICOM-4 (IPSTAR) is the world's first broadband satellite and is providing broadband services to 14 countries across Asia-Pacific. The Company will launch THAICOM-6 in 2013 providing additional capacity to strengthen THAICOM's "Hot bird" position, and will also serve the African market under the name "Aficom-1". THAICOM-7 will be launched in 2014 to expand THAICOM's service capacities and coverage in the regions.
Gilat Satellite Networks Ltd (TASE:GILT) is a leading provider of products and services for satellite-based broadband communications. Gilat develops and markets a wide range of high-performance satellite ground segment equipment and VSATs, with an increasing focus on the consumer and Ka-band market. In addition, Gilat enables mobile SOTM (Satellite-on-the-Move) solutions providing low-profile antennas, next generation solid-state power amplifiers and modems. Gilat also provides managed network and satellite-based services for rural telephony and Internet access via its subsidiaries in the United States, Peru and Colombia.
With over 25 years of experience, and over a million products shipped to more than 85 countries, Gilat has provided enterprises, service providers and operators with efficient and reliable satellite-based connectivity solutions, including cellular backhaul, banking, retail, e-government and rural communication networks. Gilat also enables leading defense, public security and news organizations to implement advanced, on-the-move tactical communications on board their land, air and sea fleets using Gilat's high-performance SOTM solutions. For more information, please visit us at www.gilat.com
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat's products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat's products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company's proprietary technology and risks associated with Gilat's international operations and its location in Israel. For additional information regarding these and other risks and uncertainties associated with Gilat's business, reference is made to Gilat's reports filed from time to time with the Securities and Exchange Commission.
CONTACT: David Leichner Gilat Satellite Networks +1 516 478 9697 email@example.com
Source: Gilat Satellite Networks Ltd. 2013 GlobeNewswire, Inc.