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RigNet Secures Global Master Supply Agreement

1235 Days ago

RigNet to Provide Managed Communications Services and OTT Solutions to McDermott’s Global Fleet

HOUSTON, Sept. 05, 2018 (GLOBE NEWSWIRE) -- RigNet’s (NASDAQ: RNET) fast-track installation and highly differentiated end-to-end connectivity helped secure a global master supply agreement with a subsidiary of McDermott International, Inc. (NYSE: MDR). A premier, fully integrated provider of technology, engineering and construction solutions to the energy industry, RigNet provided McDermott with managed communication services and multiple over-the-top (OTT) solutions to ensure their fleet of vessels is equipped with the most advanced communication systems available. 

RigNet was able to leverage its network of global support to fast-track the implementation of the project and install McDermott’s entire global fleet to meet an aggressive mobilization timeline. RigNet installed and is providing fully-managed communications solutions that included a stabilized dual-band smart antenna that enables automatic switching between C-Band and Ku-Band networks. RigNet also provides industry leading OTT solutions: CrewConnect and infotainment services for crew welfare, hotspot services for easy Internet connectivity, and Adaptive Video Intelligence for crew safety and operational efficiency.

“This win marks a significant victory for RigNet within the maritime sector and is a part of our strategic growth strategy to provide high-value solutions in verticals beyond oil and gas,” said Steven Pickett, Chief Executive Officer and President of RigNet. “The execution of this project showcases our ability to meet our customers’ needs and offer solutions to even the most remote locations with the most complex communications, technology, and time challenges.”

About RigNet
RigNet (NASDAQ: RNET) is a global technology company that provides customized communications services, applications, real-time machine learning, and cybersecurity solutions that enhance customer decision-making and business performance. RigNet is headquartered in Houston, Texas with operations around the world.

For more information on RigNet, please visit www.rig.net. RigNet is a registered trademark of RigNet, Inc.

Media / Investor Relations Contact:
Jerri Dean
RigNet, Inc.
Tel: +1 (281) 674-0699

Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  The opinions, forecasts, projections, benefits and synergies of the proposed transaction, future opportunities products, future financial performance and any other statements regarding RigNet’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not statements of historical fact, are forward-looking statements within the meaning of the federal securities laws.  RigNet can give no assurance that such expectations will prove to have been correct.  These statements are subject to, among other things, the risk factors that are discussed in RigNet’s most recent 10-K as well as RigNet’s other filings with the SEC available at the SEC’s Internet site (http://www.sec.gov).  Actual results may differ materially from those expected, estimated or projected.  Forward-looking statements speak only as of the day they are made, and we undertake no obligation to publicly update or revise any of them in light of new information, future events or otherwise.

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