Canada-Israel Industrial Research and Development Foundation (CIIRDF) will invest to facilitate faster and more secure data transmission
Gilat Satellite Networks Ltd. (NASDAQ: GILT) (TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, is pleased to announce a collaborative project with Telesat for development of broadband communication technology using low earth orbit (LEO) satellites. CIIRDF will fund the project to facilitate faster and more secure data transmission over satellite.
The joint Canada-Israel innovation project will combine Telesat’s and Gilat’s engineering capabilities to do live testing, using Gilat modem technology, over the Telesat Phase-1 LEO satellite launched earlier this year. The adaptation of Gilat’s leading-edge modem technology to support advanced LEO constellations, such as the system Telesat is developing, will highlight the benefits that a high-quality satellite broadband experience can deliver to billions of potential users worldwide who live beyond the reach of fiber networks.
“Telesat is pleased to join forces with Gilat in the development of modem technology that we will use to deliver high-speed broadband communications over the Telesat Phase-1 LEO satellite already in orbit,” said Dave Wendling, Telesat’s Chief Technical Officer. “This project will allow us to demonstrate the high performance and low latency advantages of Telesat’s LEO constellation to our tier-1 aeronautical, maritime and enterprise customers.”
“Gilat shares Telesat’s vision that the inherent advantages of LEO constellations will transform satellite communications and we are delighted to take part in the joint project funded by CIIRDF,” said Ron Levin VP Mobility and Global Accounts at Gilat. “We are fully engaged in the development of customer terminals that will operate over LEO constellations and will provide an excellent user experience over satellite for a multitude of new applications including, for example, 5G mobile backhaul.”
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“This bilateral technology partnership directly supports the objectives of CIIRDF, anchored by a strong value proposition for the collaborating firms and their customers,” said Dr. Henri Rothschild, President of CIIRDF. “The outcomes of this project will advance the technological capabilities of low earth orbit satellites, and help Telesat and Gilat capture new opportunities in this global commercial market. Downstream, this powerful cooperation will translate into new jobs and revenues that further strengthen economies of Israel and Canada.”
Certain statements made herein that are not historical are forward-look ng within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements.
These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel.
We undertake no obligation to update or revise any forward-looking statements for any reason. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission.