April 10, 2022
Yoel Gat, in his memory, was one of the most likable and impressive serial entrepreneurs in Israel and has twice won the Israel Security Award. He died this weekend of a serious illness, and was laid to rest today in the cemetery of Moshav Ramat Raziel
Yoel Gat, one of the most impressive serial entrepreneurs in Israel, died this weekend of a serious illness, and was laid to rest today (Sunday) in the cemetery of Moshav Ramat Raziel. Yoel Gat was one of the founders of Gilat Satellite Networks, Reisat and Stickspay, which he managed until recently. Gat is a graduate of the Technion in the field of electronics engineering. After graduating, he served in the technology unit of the IDF Intelligence Division and as part of his activity in the unit, he twice received the Israel Security Award. In 1987, he was one of the initiators and founders of Gilat Satellite Networks, which he managed for 16 years. The company entered the market of tiny satellite communications terminals and is currently traded on the NASDAQ and the Tel Aviv Stock Exchange at a market value of approximately NIS 1.6 billion.
In 2003, he retired and founded RaySat, a company that focused on developing low-profile antennas for mobile satellite communications systems. Rysat was acquired by Gilat in 2010. In a conversation with Techtime after his retirement, he said that he thinks a revolution is about to take place in the satellite communications industry, of which the big companies are not yet aware. It is believed that the direction will be of tiny and cheap digital satellites, so large and powerful chips are needed for satellite communications. In 2012, together with Yoav Leibowitz, he founded SatixFy, a company that focuses on satellite communications solutions based on ASIC chips and communications terminals that it develops and manufactures, primarily for the growing market for low-volume satellites (LEO).
“It is with great sadness that we announce the passing of Joel, a man of deep vision and the driving force behind the establishment and success of Stickspay,” said Yoav Leibowitz, Co-Chairman and Vice President of Stickspay. ‘Joel has been my partner for more than thirty years, and I will miss him as a personal friend and as a professional and business partner. Joel was a true entrepreneur, founding and raising new companies, technologies and markets. We will continue to uphold his vision and lead the company to continued growth. We send our sincere condolences to his wife Simona, their children, and their families. Our thoughts and prayers are with them in this time of sorrow. “
Stickspay began a process of change at the managerial level several months ago, announcing the entry of a new CEO on June 26, 2022. The company said it is expected to announce the identity of the new CEO within a few weeks, once its commitment to his current position ends. Until then, Leibowitz will serve as interim CEO. Yoel Gat participated in the process of selecting the new CEO. “Since we founded the company, we have achieved many things, but we are barely scratching the surface of the opportunity before us,” Gat said only about a week ago. Stickspay is facing an IPO at NASDAQ. In the month it signed a merger agreement with the American company SPAC Endurance Acquisition at a company value of $ 632 million.
The company’s explanation for the motive behind the merger deal is in line with Yoel Gat’s assessments from a decade ago. Many of Yoel Gat’s employees and business partners remember him for his kindness, wisdom and the many optimism and enthusiasm he knew how to instill in them. Of blessed memory.
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