Viasat Inc. (NASDAQ: VSAT), a global communications company, today announced it has completed its previously announced acquisition of RigNet, Inc. (NASDAQ: RNET). RigNet’s stockholders approved the transaction on April 21, 2021.
“RigNet will bring extensive sector expertise, an established customer base and a global communications delivery infrastructure to help further accelerate Viasat’s ability to provide high-quality, ubiquitous, affordable broadband connectivity and communications to the hardest-to-reach locations around the globe,” said Rick Baldridge, Viasat’s president and chief executive officer. “With the close of this transaction, we look forward to integrating RigNet and its global team into the Viasat family. Their technology, culture and customer philosophy are a strong complement to Viasat. Together, we believe we can further expand Viasat’s portfolio diversification strategy and solve customers’ toughest communications challenges.”
RigNet provides premier, global, end-to-end, secure managed communications service and installation capabilities, along with digital transformation solutions, which will enable Viasat to quickly expand into new adjacent industries, including renewable energy, transportation, maritime, mining and other enterprise markets.
The RigNet team will continue to be primarily based out of Houston, Texas, with additional operations around the world. The RigNet team will join Viasat’s Global Enterprise & Mobility business, led by business President, Jimmy Dodd.