By Michael Dabaie
Shares of Gilat Satellite Networks Ltd. rose 17.7% to $8.32 in Monday morning trading after the satellite networking technology company said one of the world’s largest mobile network operators will deploy 4G cellular backhaul over satellite technology from Gilat.
The MNO, which Gilat said serves hundreds of millions of subscribers in Asia, will implement Gilat’s SkyEdge II-c system and Capricorn Outdoor VSATs, which will enable improved Voice and Data over LTE services for mobile subscribers. This is expected to be deployed in the first quarter of 2022, the company said.
“This new deal represents a major market penetration achievement with significant upside potential for Gilat,” said Chief Commercial Officer Michal Aharonov.
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