Gilat Satellite Networks Ltd (Nasdaq: GILT | PowerRating) announced the signature of settlement agreements with each of Mivtach Shamir Holdings Ltd, LR Group Ltd, Gores Capital Partners II L.P and DGB Investments Inc against which Gilat had filed lawsuits in November 2008.
These lawsuits were filed by the company in connection with the termination of the Merger Agreement, dated 31 March 2008. The lawsuits were filed based on guarantees delivered by each of the defendants to cover their respective portion of the total amount of approximately USD47.0m.
The settlement agreements will result in the termination of all court proceedings filed by Gilat against each of the defendants, as well as general mutual waivers and releases provided by all parties, including the entities formed by the defendants to purchase Gilat.
Under the terms of the settlement agreement the defendants will pay Gilat an aggregate of approximately USD20m, over half of which will be paid by 1 October 2010 with the remainder to be paid in annual instalments ending in October 2013.
The settlement agreements were reached as part of mediation proceedings that began in 2009.
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Mostrando entradas con la etiqueta Gilat Satellite Networks. Mostrar todas las entradas
jueves, 12 de agosto de 2010
martes, 10 de agosto de 2010
Gilat Satellite Q2 Loss Widens
Internet Protocol based communication and networking products maker Gilat Satellite Networks Ltd. (GILT: News ) Tuesday reported a slightly wider loss for the second quarter, hurt mainly by a decline in revenues.
Net loss for the quarter was $1.33 million compared to loss of $1.20 million last year. On a per-share basis, loss remained unchanged at $0.03
Excluding share-based compensations, non-GAAP net loss was $0.93 million or $0.02 per share compared to $0.98 million or $0.02 per share last year.
Petah Tikva, Israel-headquartered Gilat's quarterly revenues declined to $51.79 million from $56 million in the comparable quarter a year ago.
Net loss for the quarter was $1.33 million compared to loss of $1.20 million last year. On a per-share basis, loss remained unchanged at $0.03
Excluding share-based compensations, non-GAAP net loss was $0.93 million or $0.02 per share compared to $0.98 million or $0.02 per share last year.
Petah Tikva, Israel-headquartered Gilat's quarterly revenues declined to $51.79 million from $56 million in the comparable quarter a year ago.
martes, 13 de julio de 2010
Gilat Chosen to Provide Broadband Satellite Networks for Homeland Security in Asia
Gilat Satellite Networks Ltd. announced on 13th July 2010 that it has been chosen to provide broadband satellite networks for homeland security applications in Asia.
The networks are being used to deliver data, video and voice applications for homeland security and border patrol forces in addition to other defense requirements. The networks incorporate a video surveillance application and various quick-deploy transportable units. These include Gilat's customized man-pack solution which is a portable communications system that enables the forces to rapidly establish broadband connectivity in the field.
Gilat's SkyEdge and SkyEdge II multi-service platforms enable the delivery of high-quality voice, broadband data and video services for different environments including enterprises, rural networks, cellular backhaul and government network applications. Gilat's diverse portfolio of VSATs offers service providers a most suitable product choice for their application needs as well as the flexibility to evolve their networks. The newest addition to Gilat's SkyEdge II portfolio is NetEdge(TM), a dedicated solution for multi star networks, specifically designed to meet the needs of corporate networks and cellular backhaul applications.
The networks are being used to deliver data, video and voice applications for homeland security and border patrol forces in addition to other defense requirements. The networks incorporate a video surveillance application and various quick-deploy transportable units. These include Gilat's customized man-pack solution which is a portable communications system that enables the forces to rapidly establish broadband connectivity in the field.
Gilat's SkyEdge and SkyEdge II multi-service platforms enable the delivery of high-quality voice, broadband data and video services for different environments including enterprises, rural networks, cellular backhaul and government network applications. Gilat's diverse portfolio of VSATs offers service providers a most suitable product choice for their application needs as well as the flexibility to evolve their networks. The newest addition to Gilat's SkyEdge II portfolio is NetEdge(TM), a dedicated solution for multi star networks, specifically designed to meet the needs of corporate networks and cellular backhaul applications.
lunes, 5 de julio de 2010
Vietnam Telecom International selects Gilat for Broadband Satellite Network Deployment
Gilat Satellite Networks Ltd. announced that it is providing a SkyEdge II broadband satellite communications network to Vietnam Telecom International (VTI), a subsidiary of VNPT, Vietnam's national telecommunications service provider.
The new SkyEdge II system will operate via VINASAT-1, the first Vietnamese communications satellite, and will combine both C-band and Ku-band capacity within the same network using the SkyEdge II multi-transponder capability.
The VSAT network will consist of hundreds of remote sites and will support a wide range of applications, including broadband Internet access, GSM trunking and private leased circuits.
Mr. Ho Cong Lam, VTI's Deputy Managing Director, said, "We have concluded that the SkyEdge II is the most suitable communications system for our new VSAT services. By incorporating Gilat's VSAT platform, we can deliver a diverse range of services to end-users in every corner of the country."
The new SkyEdge II system will operate via VINASAT-1, the first Vietnamese communications satellite, and will combine both C-band and Ku-band capacity within the same network using the SkyEdge II multi-transponder capability.
The VSAT network will consist of hundreds of remote sites and will support a wide range of applications, including broadband Internet access, GSM trunking and private leased circuits.
Mr. Ho Cong Lam, VTI's Deputy Managing Director, said, "We have concluded that the SkyEdge II is the most suitable communications system for our new VSAT services. By incorporating Gilat's VSAT platform, we can deliver a diverse range of services to end-users in every corner of the country."
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