Gilat Satellite Networks

Gilat Satellite Networks Ltd.
Public
Traded as NASDAQ: GILT, TASE: GILT
Industry Telecommunication
Founded 1987 (1987)
Founder Amiram Levinberg
Joshua Levinberg
Yoel Gat
Headquarters Petah Tikva, Israel
Key people
 Dov Baharav (CEO)
Services Satellite communication
Revenue Steady US$235.1 million (2014)
Decrease US$–5.0 million (2014)
Profit Increase US$13.1 million (2014)
Divisions Gilat Network Solutions
Gilat Network Operations
Subsidiaries Wavestream Corporation
Website www.gilat.com
Footnotes / references
[1][2]

Gilat Satellite Networks is a public company headquartered in Israel[3] that develops and sells VSAT satellite ground stations and related equipment. Its shares are traded on the NASDAQ Global Select Market and on the Tel Aviv Stock Exchange.

History

Gilat Satellite Networks was founded in 1987 by brothers Joshua and Amiram Levinberg, Yoel Gat, Shlomo Tirosh, Arik Keshet, and Gideon Kaplan.[4] In its early days, Gilat struggled to compete with larger and better-established companies the likes of EchoStar.[5]

In 1998, Gilat was involved in founding Global Village Telecom (GVT), a company that build a satellite-based phone network for remote locations in South America using the VSAT technology that was developed by Gilat. During 1998 and 1999 GVT won tenders to build rural phone networks in Colombia,[6] Chile and Peru[7]

In 2000, Gilat introduced an innovation involving VSAT technology allowing remote locations, such as the Havasupai Reservation in Arizona and rural communities in Brazil, to access the internet at high speeds.[8][9] In Feburay 2000, Gilat and Microsoft announced that they are co-developing a two-way satellite broadband service for consumer purposes. The satellite service delivered Internet connections at speeds of up to 1.5 Mbps and did not require a second telephone line. A new company, Gilat-To-Home, was established to deliver the broadband two-way satellite service and Microsoft took an initial 26 percent stake in the company with an investment of US$50 million.[10] In September 2000, Gilat-To-Home changed its name to StarBand Communications and received an investment of $50 million from EchoStar, who received an equity stake of 32 percent in StarBand.[11]

In 2011, Gilat announced the creation of a new division, headed by Brigadier General (Res.) Moshe Tamir, expanding its presence in the U.S. defense market.[12]

Strategic acquisitions

Company Year Price Reference
Spacenet
1998
 US$225 million
[13]
StarBand
2005
  
[14]
RaySat Antenna Systems
2010
 US$25 million
[15]
Wavestream
2010
 US$130 million
[16]

Products

See also

References

  1. ↑ "GILT Income Statement". Yahoo! Finance. 2011. Retrieved 25 September 2011.
  2. ↑ "Gilat Announces Changes in Executive Management". IsraelDefense. 1 November 2011. Retrieved 13 February 2012.
  3. ↑ Gilat Company Profiles - Israel
  4. ↑ Landau, Efi (30 December 1999). "Yoel Gat – Gilat Satellite Networks". Globes. Retrieved 25 September 2011. Leaving the unit together with Gat were Amiram Levinberg, his brother Joshua Levinberg, Shlomo Tirosh and Gideon Kaplan, and together they set up Gilat Satellite Networks (GILTF).
  5. ↑ David L. Kurtz; Louis E. Boone (2009). Jack W. Calhoun, ed. Contemporary Business. Mason, Ohio: Cengage Learning. p. 196. ISBN 978-0-324-65389-2. Retrieved 25 September 2011.
  6. ↑ Israel's GVT to Set Up $80 Mln Telephony Network in Colombia , Efi Landau Globes, 27/09/1999
  7. ↑ GVT of Gilat Group Wins Second Tender in Chile: $2.5 Mln Rural Phone Network Efi Landau, Globes, 08/07/1998
  8. ↑ Donald Mitchell; Carol Coles (2003). The Ultimate Competitive Advantage. San Francisco: Barrett-Koehler. pp. 111–112. ISBN 1-57675-167-8. Retrieved 25 September 2011.
  9. ↑ Sylvie Albert; Don Flournoy; Rolland LeBrasseur (2009). Networked Communities. Hershey, Pennsylvania: IGI Global. ISBN 978-1-59904-771-3. Retrieved 25 September 2011.
  10. ↑ MSN and Gilat Satellite Networks Introduce First Consumer Two-Way Satellite High-Speed Internet Access Service
  11. ↑ EchoStar Completes $50 Million Investment in StarBand
  12. ↑ Habib-Valdhorn, Shiri (5 October 2011). "Gilat Satellite Networks targets US defense market". Globes. Retrieved 25 October 2011.
  13. ↑ "Gilat Acquires GE Spacenet in $225 Mln Stock Swap". Globes. 1 October 1998. Retrieved 25 September 2011. Gilat Satellite Networks announced today that it had signed an agreement for the purchase of GE Spacenet of the General Electric group for $225 million.
  14. ↑ "Gilat's Spacenet buys remaining Starband shares". Globes. 8 March 2005. Retrieved 25 September 2011. Gilat Satellite Networks (Nasdaq: GILTF; TASE: GILTF) last night announced that its subsidiary, Spacenet Inc., had acquired all remaining shares of StarBand Communications Inc.
  15. ↑ "Gilat Satellite Networks Ltd. (Form: 6–K, Received: 02/28/2011 10:01:19)". EDGAR Online. 28 February 2011. Retrieved 25 September 2011. The Wavestream acquisition closed during the quarter and earlier in the year we acquired Raysat Antenna Systems.
  16. ↑ "Gilat Satellite Networks Completes Acquisition Of Wavestream". RTTNews. 29 November 2010. Retrieved 25 September 2011.
  17. ↑ "Gilat Announces New Multi-star VSAT Networking Solution, NetEdge". GlobeNewswire. 15 June 2009. Retrieved 13 February 2012.
  18. ↑ "Gilat Introduces Very Lightweight Ku-Band Broadband Solution for Airborne Applications". MarketWatch. Petah Tikva, Israel. GlobeNewswire. 30 November 2011. Retrieved 13 February 2012.
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