PETAH TIKVA, Israel, Feb. 12, 2013 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq:GILT), a worldwide leader in satellite networking technology, solutions and services, today announced that its wholly owned subsidiary Spacenet Inc.®, a leading provider of managed network and data security services has been awarded a 5-year base contract by one of the world's leading delivery service organizations to upgrade and provide network connectivity to more than 5,700 locations. The contract, valued at over $20 million, includes an option to extend the 5-year base period of performance for three further periods of 3-years for a total potential contract period of 14 years. The contract is part of a major initiative to reduce overall operating costs at the delivery service organization, while improving the user experience at each location. The contract includes serving more than 1,900 sites with broadband connectivity and more than 3,800 sites with satellite-based VSAT technology. "For more than a decade, Spacenet has provided a variety of managed network services to this organization," said Spacenet President and CEO, Glenn Katz. "Our knowledge and experience with satellite-based services long enabled our client to provide high-speed connectivity at locations out of reach of terrestrial networks. Now, like many organizations having geographically disparate locations, this organization is embracing the expansion of cost-effective broadband options all across the country and has selected Spacenet as one of its vendors to achieve its goals. Our broad portfolio of network offerings, industry relationships and technology-neutral approach enables Spacenet to offer optimal solutions on a site-by-site basis." Spacenet began its work on the contract upon signature, and expects its client to realize benefits in cost savings and improved throughput, together with an overall long-term lower total cost of network ownership. For more information on how your organization can achieve similar benefits using Spacenet's Managed Network Services, please visit Spacenet at www.spacenet.com , email email@example.com or call 1-866-480-2263. About Spacenet® Since 1981, Spacenet Inc. has designed, implemented and managed some of the largest communications networks for US-based business, industrial and government customers. Spacenet has a longstanding tradition of industry leadership and innovation, and today manages communications at more than 160,000 locations for customers including many Fortune 500 companies and major government agencies.