Benzinga | May 26, 2021 08:20AM EDT

Gilat Extends Latin American IoT Project For Rural Farming Productivity

* Gilat Satellite Networks Ltd (NASDAQ: GILT) extended its multi-million dollar IoT project in Latin America.

* Tier-1 MNO extends coverage of Gilat's cellular backhaul solution as it increases its Agriculture IoT network.

* Gilat provides the 4G network expansion to support the growing business with machine connectivity for cost-effective decisions, better crop management, greater speed, efficiency, and productivity in the production flow.

* The initiative further solidified Gilat's partner's IoT Agribusiness network, delivering increased productivity to the farming industry in rural Latin America, Gilat SVP Michal Aharonov said.

* Price action: GILT shares traded higher by 1.62% at $9.43 in the premarket session on the last check Wednesday.