Benzinga | Jul 7, 2021 10:06AM EDT

Gilat Bags Multi-Million Dollar Satellite Communication Equipment Contract For Asian Defense Forces

* Satellite networking technology company Gilat Satellite Networks Ltd (NASDAQ:GILT) won a multi-million-dollar contract to provide satellite communication (SATCOM) equipment to an extensive system integrator for its customer in Asia.

* Gilat's multi-application platform, SkyEdge II-c, Capricorn VSATs, and TotalNMS will serve the needs of the defense forces to provide tactical SATCOM solutions for mobile platforms and enable efficient communication channels.

* Multiple hubs and hundreds of VSATs will be deployed in redundant configurations to meet the critical security needs, quality, and critical regulatory requirements.

* Price action: GILT shares traded higher by 1.36% at $10.45 in the market session on the last check Wednesday.