Gilat: A million-dollar contract in the Philippines – the capital market

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Gilat
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The technology provider for satellite communications networks reports that it has signed a contract with Globe Telecom, a company traded on the Philippine Stock Exchange: GLO, for the provision of management services and the expansion of a multi-million dollar satellite transmission project, in favor of providing the company’s cellular services in the country and expanding its cellular coverage. Globe is the largest cellular network operator in the Philippines.

The joint announcement issued by the companies did not provide information regarding the exact financial scope of the transaction. But the agreement is said to be being implemented “due to the accelerating demand for connectivity. Gilat’s cellular transmission over satellite provides a fast solution compared to the long effort and time required to deploy fiber optics, especially in areas with challenging terrain conditions.”

Ernest Ko, President and CEO of Globe: “Over the past few years, Gilat has been a trusted Globe partner, supporting us with uncompromising quality that helps us serve our customers better. This transmission technology will improve network resilience and increase the reliability of our tailored services to provide the country with the First WorldNetwork.” .

Abhai Komar, Vice President of the Asia-Pacific Region and Japan in Gilat: “We strive to enable the Globe to leverage Gilat’s expertise in providing connectivity in the most challenging locations and are committed to meeting the level of service required by the Globe, while continuing to develop our solution and services to lead the industry with mobile satellite transmission.”