Monday, December 21, 2020

Viasat Acquires RigNet For $222M

Carlsbad-based satellite communictions provider Viasat announced this morning that it is in a definitive agreement to acquired RigNet, a provider of communications and connectivity services for the oil and gas industry. Accrding to ViaSat, the deal is worth aproximately $222M, and was an all-stock deal. RigNet was based in Houston, Texas. Viasat said the deal will help accelerate its efforts to bring broadband connectivity and communications to "hardest-to-reach locations around the globe." RigNet has over 650 employees, with approximately 50% overseas. Viasat was advised by LionTree Advisors LLC and Latham & Watkins LLP; RigNet was advised by Lazard Middle Market LLC and Baker Botts LLP.