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Israel's Orbit wins large satellite communications deal
TEL AVIV |
TEL AVIV (Reuters) - Orbit Technologies (ORBI.TA) won a contract for its Ka-band communications systems from one of the world's largest satellite ventures, the Israeli company said on Sunday.
Orbit said the customer, a consortium of carriers that provides satellite high-speed broadband communications around the world, estimates the potential market for Orbit's systems at $150 million over five years.
The company received an initial immediate order worth 4 million shekels ($1.03 million).
Orbit's shares were up 40 percent to 8.68 shekels in afternoon trade.
Orbit will supply communications systems, including 2,500 antennas, for the Ka band frequency, a key growth engine for the satellite communications industry.
($1 = 3.90 shekels)
(Reporting by Tova Cohen)
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