Gilat Wins Client To Extend 4G Coverage for Mobile Operators In Latin America

Telefónica Global Solutions (TGS) chose Gilat Satellite Networks Ltd GILT to extend 4G cellular backhaul over satellite for mobile operators serving rural areas in the northern part of Latin America.
Within a multi-year agreement with TGS, Gilat will provide its SkyEdge II-c platform to increase support for large regional projects.
Gustavo Arditti, Global Director of the Satellite Business Unit at Telefónica Global Solutions, said, "Gilat met those needs with good spectral efficiency and comprehensive regional support. In this way, we continue our multi-service strategy, which gives us flexibility to deliver the most suitable solution to each customer and to support our goal to bridge the digital divide."
Michal Aharonov, Chief Commercial Officer at Gilat, said, "The network coverage expansion in the region, enabled by using Telefónica's infrastructure, is a testament to Gilat's leadership in cellular backhaul over satellite."
In its Q2 report in August, Gilat reiterated the FY22 revenue forecast of $245 million - $265 million (consensus $254.86 million).
Price Action: GILT shares traded lower by 4.07% at $5.65 on the last check Monday.