Friday, August 2, 2013

RigNet Buys Energy Business From Satellite Operator Inmarsat

Houston-based RigNet, the provider of managed remote communications services to the oil and gas industry, has inked a deal with satellite operator Inmarsat, the two said late Thursday. According to the two, they are in a "wide-ranging" strategic transaction where RigNet will distribute Inmarsat's Global Xpress and L-band services to the energy sector. The two also said that Inmarsat will sell its retail energy business to RigNet. The deal is worth $25M, and includes Inmarsat's microwave and WiMAX networks in the US Gulf of Mexico serving drillers, producers and energy vessel owners, plus assets in Russia, the UK, US, and Canada. Inmarsat said those operations had total revenues of $81M in 2012.