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Gilat Rises to Month High After New Network Contract in Asia

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May 1 (Bloomberg) -- Gilat Satellite Networks Ltd. rose to the highest level in more than a month after the developer of satellite-networking technology said it won a contract from a mobile network operator in Southeast Asia.

Shares of the Petah Tikva, Israel-based rose 2.9 percent to 15.84 shekels, the highest intraday level since March 19, at 2:44 p.m. in Tel Aviv.

Gilat will provide the operator with equipment, including hub installation, and supervise a site upgrade and deployment in over 100 sites as part of the operator’s expansion program, Gilat said in a Globe Newswire statement today.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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