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Investing.com -- Gilat Satellite Networks (NASDAQ:GILT) stock rose 5% after the satellite networking technology provider announced a new $25 million agreement with Peru’s national telecommunications program to advance digital inclusion in the country.
The deal, signed by Gilat’s Peruvian subsidiary, involves modernizing the Regional Broadband network in the Cusco region. The company will migrate the network over the next 12 months and deliver services for a five-year period.
Under the agreement with Pronatel (Programa Nacional de Telecomunicaciones), the upgraded network will provide high-speed internet of 200 Mbps to nearly 208 public institutions, including schools, health centers, and police stations, as well as 69 public free WiFi hotspots.
"Our decades of experience delivering large-scale connectivity initiatives across Peru positions us to complete this migration quickly and effectively," said Arieh Rohrstock, Corporate Senior Vice President and President, Gilat Peru.
The project builds on Gilat’s ongoing partnership with the Peruvian government and aims to improve access to education, healthcare, and public safety services in remote areas while establishing infrastructure for future bandwidth growth.
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