May 22, 2017

RigNet, Inc. has acquired Cyphre Security Solutions ("Cyphre") a cybersecurity company that provides the most advanced enterprise data protection available on the market today. Cyphre's hardware-based encryption features low latency protection for files at rest and in transit for both public and private cloud, providing higher levels of granularity and control than previously seen in the market.

"RigNet is pleased to add this critical and highly differentiated security offering. This acquisition supports our stated diversification plan and our plan to expand our over-the-top (OTT) offerings. Cyphre's product set is a key step in creating a world-class cybersecurity portfolio for our customers. Deployment of these solutions will provide unique protection for our customer's data," said Steven Pickett, RigNet's CEO and president.

Lance Smith, CEO of Cyphre, said "I am excited about the powerful combination of Cyphre's product set that leverages our BlackTIE® encryption technology and RigNet's world-class Managed Service offerings. RigNet, through the use of these new capabilities, will provide an unmatched and innovative security solution for enterprise customers around the world."