Gilat Lands Multimillion Strategic Partnership with Nelco for SkyEdge IV Deployment in India
Summary
Gilat Satellite Networks has secured a strategic multimillion-dollar partnership with Nelco, a leading Satcom service provider in India, for the deployment of its advanced SkyEdge IV hub platform. This agreement includes a multimillion order, with deliveries anticipated over the next 12 months. This new business win follows a recent significant order exceeding $7 million from the U.S. Department of War, highlighting continued strong demand for Gilat's solutions. The partnership is crucial for expanding Gilat's Ka-band service network in India, enabling high-performance connectivity across key segments such as aviation, cellular backhaul, and enterprise, and validates the market's adoption of the SkyEdge IV platform. Investors should monitor further details on the financial specifics of this "multimillion" order and the progress of the deployment in India.
At the time of this announcement, GILT was trading at $19.20 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $5.43 to $20.38. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.