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TMCNet:  Peruvian Bank Selects Gilat Unit

[January 25, 2013]

Peruvian Bank Selects Gilat Unit

(FinancialWire via COMTEX) -- January 25, 2013 (FinancialWire) -- Communication and networking company Gilat Satellite Networks Ltd. (NASDAQ: GILT) recently announced that its subsidiary, Gilat To Home Peru, has been selected by Banco de la Nacion, Peru's state bank, to provide satellite connectivity for 320 rural locations as well as a disaster recovery site in Chiclayo. The contract is reportedly for three years and is valued at $9.6 million.


Banco de la Nacion has reportedly been a Gilat customer for over ten years. In this new project, Gilat's SkyEdge II solution, featuring the WebEnhance VSAT, will be used to bring broadband connectivity to the bank's many branches, according to Gilat. Based on Gilat's innovative CacheMode technology, WebEnhance enables a better user experience with accelerated web browsing, according to Gilat.

Gilat will reportedly provide satellite connectivity to outlying areas, connecting remote offices with enterprise applications and allowing mobile and remote banking branches to extend ATM and online banking access to customers.

As part of the contract, Gilat will reportedly also deploy a disaster recovery site in the northern city of Chiclayo providing satellite backup to the Bank's data center located in Lima. Satellite backup is used to provide full broadband connectivity, allowing mission critical operations to continue unharmed during emergency outages when terrestrial systems fail.

Banco de La Nacion's stated mission is to provide high quality financial solutions that add value while contributing to the decentralization and expanded coverage of services that increase social inclusion.

Gilat Satellite Networks (approx market cap. US$ 219.3 mil.) provides Internet protocol (IP) based digital satellite communication and networking products and services worldwide. It sells its products primarily to communication service providers and operators that use VSATs to serve enterprise, government and residential users or to system integrators, as well as directly to end-users. The company was founded in 1987 and is headquartered in Petah Tikva, Israel. Gilat employs approximately 1,356 people.

========= GILT stock info: Last quote at close: $5.30 Last close vs. 50-day moving avg.: +0.4% Last close vs. 200-day moving avg.: +27.1% Last close vs. 52-wk high: -5.4% 3-mo. avg. daily volume: 147,547 shares Approx. avg. daily money volume: $779,048 ========= INDEPENDENT EQUITY RESEARCH for companies mentioned in the news is available through the Investrend Research Syndicate (at http://www.investrend.com/research/resources/).

Free ANNUAL REPORTS and COMPANY FILINGS for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/ level=279).

========= FIRSTALERT(tm), an adjunct dissemination of FinancialWire(tm), provides news summaries, special commentary and insight, as well as daily and weekly digests to the financial community.

========= FINANCIALWIRE(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation from subject companies, associated entities or individuals for its news, opinions or distributions. Contact FinancialWire(tm) directly via the FinancialWire(tm) website (at http://www.financialwire.net/contact/). Copyright (C) MMXII, FinancialWire(tm); All rights reserved.

========= Stocks: Gilat Satellite Networks Limited (NASDAQ: GILT) ========= http://www.financialwire.net

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