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Slide #56. RigNet — Inmarsat's Energy Broadband Business
Inmarsat's Energy Broadband Business
RigNet, Inc. (Nasdaq:RNET), a leading global provider of managed remote communications solutions to the oil and gas industry, today announced that it has completed a strategic transaction with Inmarsat plc (LSE:ISAT.L), the leading provider of global mobile satellite services (MSS), involving the sale of substantially all of Inmarsat's Energy Broadband business to RigNet and the appointment of RigNet as a Value Added Reseller of Inmarsat's Global Xpress (GX) service and as a Distribution Partner for Inmarsat's L-band services to the energy sector worldwide.
RigNet a global technology company that provides customized data and communications services. Co.'s segments are: Managed Communications Services, which provides remote communications, telephony, and technology services for offshore and onshore drilling rigs and production facilities, support vessels, and other remote sites; Applications and Internet-of-Things, which provides applications over-the-top of the network layer including Software as a Service offerings such as a real-time machine learning and AI data platform, Cyphre® Encryption, and cybersecurity services; and Systems Integration, which provides design and implementation services for customer telecommunications systems.
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Hold (2.00 out of 4)