Israel's Satcom Systems disclosed Monday to the Tel Aviv Stock Exchange that its subsidiary, Gilat Telecom, which specializes in providing communications services using satellite infrastructure, fiber optic and radio infrastructure, has signed an agreement with an Israeli government company to provide satellite communications equipment and services for three years. The deal is valued at up to NIS 40 million.
The company reported that the new transaction constitutes a renewal and upgrade of a previous four-year, NIS 37.5 million agreement. Satcom said the previous contract was recently completed after utilizing about 80% of the previous framework over the period, "in a way that indicates the company's stability, the high customer needs and the quality business relationship that prevails between the parties. The new framework transaction includes a significant increase in the scope of the framework as stated above, as well as an expansion of the basket of products and services required by the customer."