Carlsbad’s Viasat to buy communications company RigNet in $222M deal [The San Diego Union-Tribune]
To help jumpstart efforts to bring satellite Internet to more hard-to-reach businesses, Carlsbad-based Viasat said Monday that it has agreed to buy energy communications firm RigNet in an all-stock deal valued at $222 million, including the assumption of debt.
Viasat entered into the agreement ahead of the launch of three new satellites starting late next year. These Viasat-3 satellites, each with a terabyte of capacity, will give the company global coverage and a massive boost in bandwidth, allowing it to deliver faster speeds and more data to customers.
To help jumpstart efforts to bring satellite Internet to more hard-to-reach businesses, Carlsbad-based Viasat said Monday that it has agreed to buy energy communications firm RigNet in an all-stock deal valued at $222 million, including the assumption of debt.
Viasat entered into the agreement ahead of the launch of three new satellites starting late next year. These Viasat-3 satellites, each with a terabyte of capacity, will give the company global coverage and a massive boost in bandwidth, allowing it to deliver faster speeds and more data to customers.
That additional capacity and geographic reach has Viasat looking for new areas of expansion beyond its core residential Internet customers in the Americas and commercial airlines, where it powers in-flight Wi-Fi for JetBlue, American and United Airlines, among others.