Late Post

Viasat announces $222m RigNet acquisition

Looking to further accelerate its strategy to provide high-quality, ubiquitous, affordable broadband connectivity and communications to the hardest-to-reach locations around the globe, Viasat has entered into a definitive agreement to acquire secure, intelligent networking solutions and specialised applications developer RigNet.

With over 650 employees, RigNet provides premier, global end-to-end, secure managed communications service and installation capabilities, along with digital transformation solutions. The company boasts that it has a strong global support infrastructure and operations foundation with more than 50% of its employees overseas.

RigNet’s international presence is said to align with Viasat’s expanding global operations, and the transaction – with an enterprise value of approximately $222m – would give Viasat direct access to over 650 customers and expand and diversify Viasat’s commercial connectivity portfolio, providing Viasat an opportunity to enter adjacent global markets in industries such as energy, shipping, maritime, mining and additional enterprises.

For example, the Viasat insists that by combining gains in bandwidth efficiencies expected from the impending ViaSat-3 constellation and RigNet’s portfolio of services, Viasat will become a leading vertically integrated energy communications provider with deep domain and customer expertise.

In addition, the acquisition is seen as giving Viasat access to complementary core technology and services,