CARLSBAD, California Viasat, a global communications company, today announced it entered into a definitive agreement to acquire RigNet, a leading provider of ultra-secure, intelligent networking solutions and specialized applications, in an all-stock transaction that values RigNet at an enterprise value of approximately $222 million based on Viasat s share price as of the date of the agreement and RigNet s net debt at September 30, 2020.
The acquisition will help to further accelerate Viasat s strategy to provide high-quality, ubiquitous, affordable broadband connectivity and communications to the hardest-to-reach locations around the globe. 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: energy, shipping, maritime, mining and additional enterprises.
Viasat Announces Definitive Agreement to Acquire RigNet
- Acquisition Expected to Expand and Diversify Viasat s Commercial Connectivity Portfolio, Add Complementary Technology and Align with Viasat s Global Operations Ahead of the ViaSat-3 Satellite Constellation Launch
- Investor Conference Call Scheduled for Monday, December 21, 2020 at 8:30 a.m. Eastern Time
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CARLSBAD, Calif., Dec. 21, 2020 /PRNewswire/ Viasat Inc. (NASDAQ: VSAT), a global communications company, today announced it entered into a definitive agreement to acquire RigNet, Inc. (NASDAQ: RNET), a leading provider of ultra-secure, intelligent networking solutions and specialized applications, in an all-stock transaction that values RigNet at an enterprise value of approximately $222 million based on Viasat s share price as of the date of the agreement and RigNet s net debt at September 30, 2020.