Orbit Technologies lands $150M contract
Under terms of new agreement, company to supply hundreds of communication system for leading satellite project financed by global initiative. CEO: This is a strategic agreement with great potential
Orbit was selected to provide Ka-band systems, which are currently a major growth engine of the satellite market, and will provide its satcom solutions for a leading satellite project financed by a global satellite initiative.
The initiative will enable broadband high frequency global satellite communications mainly for military and government purposes, as well as for gas and oil exploration enterprises and private nautical uses.
Under the terms of the agreement, Orbit will provide hundreds of OrBand and OrSat systems, which will include a total of some 2,500 antennas as well as long-term service and support agreements. The GBSI Initiative is one of the world's largest satcom projects and is scheduled to launch 12 Ka band satellites throughout 2013-2014 alone.
Orbit has received a NIS 4 million (about $1 million) order to kick start the project.
Orbit Technologies CEO Ofer Greenberger said, "We are proud that Orbit was chosen to provide communication systems for such a singular project on a global scale.
"We view the achievement as a certificate of honor and proof that we have unique technology which is used in our OrBand and OrSat platforms, which were considered for this agreement. Such an achievement positions Orbit as a global leader in the naval and land Ka-band market, which are major growth engines."
This is a strategic agreement with great potential in terms of financial scope and short and long term strategic implications. This project is valued by the GBSI Initiative at tens of millions of dollars from the moment we begin supplying communication systems and, according to estimates by the initiative, its scope may reach as much as $150 million over the next five years."
Greenberger added that "Orbit has now gone over to the big boys' league. We've gained an important entrance ticket that will enable us to begin cooperating with providers and integrators with which we have not dealt with until now, thereby opening business opportunities to sell additional products and sign new agreements."
This report was originally published in Hebrew by Calcalist
