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Wednesday, February 24, 2021

Viasat Buying RigNet in $222 Million Deal

Satellite internet provider Viasat is acquiring RigNet, a provider of networking solutions and specialized applications, in a $222 million all-stock transaction.

The acquisition will accelerate Viasat’s strategy to provide broadband connectivity and communications to the world’s hardest-to-reach locations. Expect the deal to close in mid-2021.

RigNet provides managed communications service and installation capabilities. It also offers digital transformation solutions. This will allow Viasat to expand into new adjacent industries, which include energy, shipping, maritime, mining and more.

Jimmy Dodd is president of Viasat’s global enterprise and mobility business unit.

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