RigNets Strategic Agreement with Inmarsat August 2, 2013
Strategic Deal: RigNet and Inmarsat 1. RigNet to Acquire Inmarsats Energy Broadband businesses and assets 2. RigNet Agrees to Become Key Distributor to Energy Industry for Inmarsats Global Xpress High-Throughput Satellite…
1. Acquiring Energy Broadband Business Carve-out from Inmarsat includes: Microwave and WiMAX networks in the Gulf of Mexico VSAT interests in Russia, the UK, the US and Canada An M2M SCADA VSAT network in the continental U.S. A…
RigNets Acquisition at a Glance RigNet to pay 25 million in cash Acquired business had 2012 sales of 81 million, and is expected to achieve an EBITDA contribution margin of 8-10% on a run-rate basis within the first year of closing…
2. Key Distribution Partnership Agreement RigNet will become a key distributor of Inmarsats Global Xpress (GX) platform New-generation high-throughput satellite platform Will become operational beginning in 2015 Greater bandwidth…
Benefits to RigNet Supports our strategy to serve the oil and gas industry across life of the field, from drilling through production Enhances our services portfolio for existing and new customers Adds customers Adds geographic…
Benefits to Inmarsat Gives Inmarsat an even stronger distribution channel into the energy market for its GX offering Supports Inmarsats model of primarily indirect (wholesale) distribution to end users, working through distributors…
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