Key Developments: RigNet Inc (RNET.OQ)
27.88USD
2 Aug 2013
$-0.05 (-0.18%)
$27.93
$27.62
$28.05
$27.44
4,478
15,349
$29.41
$16.85
Latest Key Developments (Source: Significant Developments)
Rignet Inc Enters Into Global Reseller Agreement With SnapTV AS
Rignet Inc announced it has entered into a global value-added reseller agreement with SnapTV AS, a Norwegian specialist in maritime and offshore infotainment and collaborative media. SnapTV has specialized in media management for bandwidth-restricted environments and supports fleet-wide management of audio and video for applications such as crew infotainment, e-learning, digital signage, monitoring / surveillance and organizational communication. Full Article
Rignet Inc Signs Contract Extension For Managed Communications Services
Rignet Inc announced that it has signed a two-year contract extension to continue delivering managed communications for two semi-submersible offshore drilling rigs: Transocean Barents and Transocean Spitsbergen, both operating in the Norwegian sector of the North Sea. As part of the contract extension, RigNet will deliver a fully-managed end-to-end IP network solution, relying on VSAT technology for last-mile connectivity, to ensure that the rigs derive greater value from its network services. The solution includes VoIP, enterprise data and Internet access services supported by 24/7 network monitoring and support from RigNet's Network Operations Center and, if required, local field technician support. The end user experience is improved through a WAN optimization service powered by Riverbed Steelhead appliances. Full Article
Rignet Inc Announces Acquisition Of Nessco Group Holdings Ltd.
Rignet Inc announced that it has acquired Nessco Group Holdings Ltd. (Nessco), an Aberdeen-based international leader in the field of telecommunications systems integration for the oil and gas industry. The acquisition broadens and strengthens RigNet's communications offerings to the oil and gas industry, allowing the Company to provide its services over the life of the field from drilling through production, both offshore and onshore, around the globe. RigNet will also be leveraging its global footprint to bolster the international reach of Nessco's systems integration business. The all-cash purchase price was GBP29.5 million ($46.4 million) for the business and working capital, including the purchase of Nessco's 30,000 sq. ft. headquarters facility in Aberdeen, with RigNet paying up to an additional GBP1.6 million ($2.5 million) through November, 2012 upon satisfaction of certain post-closing events. Assuming such post-closing events are met, the total purchase price would be GBP31.1 million ($48.9 million), with GBP26.9 million ($42.3 million) being paid for the business and Nessco's headquarters facility plus an additional GBP4.2 million ($6.6 million) being paid for working capital. Full Article
Rignet Inc Elects James H. Browning As Chairman
Rignet Inc announced that its Board of Directors has elected James H. Browning as non-executive Chairman. Full Article
Rignet Inc Elects James Browning As Co-Chairman
Rignet Inc announced that James Browning has been elected Co-Chairman of the Company through the upcoming 2012 Annual Stockholders Meeting and also announced that Kevin Mulloy has joined its Board of Directors, increasing the board membership from nine to ten Directors. In addition to his role as co-chairman, Mr. Browning will continue to serve on the Corporate Governance and Nominating Committee and as chairman of the Audit Committee. Full Article
Rignet Inc Announces T. M. Matthews To Stand Down As Chairman
Rignet Inc announced that Thomas M. Matthews will stand down as Chairman at the May Annual Meeting of Stockholders and will not be standing for re-election to the RigNet Board of Directors. Mr. Matthews has served as Chairman of the Board and a Director for the last four years, and will continue to serve until his successor is duly elected by the stockholders. Full Article

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