Inmarsat completes sale of Inmarsat retail energy operations to RigNet

3 February 2014

Inmarsat has now completed the sale of its retail energy operations to RigNet, Inc. a provider of managed remote communications solutions to the oil and gas industry.  The sale is part of a wide-ranging strategic transaction between the two companies, which also includes the appointment of RigNet as a Value Added Reseller (VAR) for Inmarsat’s Global Xpress service and as a Distribution Partner for Inmarsat’s award-winning L-band services to the energy sector.   

Under the deal, Inmarsat sold to RigNet substantially all of its retail energy broadband assets, which include Inmarsat’s microwave and WiMAX networks in the US Gulf of Mexico, its VSAT interests in the UK, the US and Canada, its telecommunications systems integration business operating worldwide, and its retail L-band energy satcoms business.   In 2012, the operations subject to the sale had total revenues of US$68 million.   The transaction excludes Inmarsat’s energy interests in Russia.