RigNet Accelerates Growth in Gulf of Mexico Operations with Opening of New Office in Lafayette, Louisiana Metropolitan Area
RigNet’s new office combines operations of four facilities that were previously acquired from DTS, Autocomm and SAFCON together with RigNet’s original facility in Lafayette.
The new facility brings together local RigNet staff as well as employees of these recently acquired companies.RigNet is hosting an invitation-only ribbon-cutting ceremony on Oct 24th for the new location.HOUSTON, Oct. 22, 2019 (GLOBE NEWSWIRE) — RigNet, Inc. (NASDAQ: RNET), the leading provider of ultra-secure, intelligent networking solutions announced today that it has completed the consolidation of four offices in the Lafayette area into a single new facility. This new office will accommodate RigNet’s growing customer base and support its Gulf of Mexico (GoM) operations including RigNet’s new 4G LTE and 5G-capable network launched across more than 60,000 square miles of the Gulf of Mexico. This network now connects offshore workers, vessels and critical infrastructure in an area larger than the state of Florida. Local employees of recently acquired DTS, Autocomm and SAFCON will join RigNet’s employees at this new office.The new facility is over 55,000 square feet of office and warehouse space and is RigNet’s largest operational facility supporting all key functions for managed services with approximately 130 staff members based there. This location also includes a fabrication shop for RigNet’s in-house fabrication as well as a dedicated area for customer factory acceptance testing (FAT) for large scale projects.“RigNet has a long history in the area working closely with many preeminent energy companies in the Gulf of Mexico,” said Steven Pickett, Chairmen and CEO of RigNet. “We are very committed in expanding our operations in the area in order to support our growing customer base. This facility will allow us to expand our capabilities providing the latest technology for our ultra-secure intelligent network solutions on our expanded GOM network.”This location will showcase RigNet’s state-of-the-art solutions across its managed communications portfolio, system integration services and SAFCON products. It will contribute to the general understanding of the added value and custom services RigNet provides.About RigNet, Inc.:RigNet (NASDAQ: RNET) delivers advanced software, optimized industry solutions, and communications infrastructure that allow our customers to realize the business benefits of digital transformation. With world-class, ultra-secure solutions spanning IP connectivity, bandwidth- optimized OTT applications, IIoT big data enablement, and industry-leading machine learning analytics, RigNet supports the full evolution of digital enablement, empowering businesses to respond faster to high priority issues, mitigate the risk of operational disruption, and maximize their overall financial performance. RigNet is headquartered in Houston, Texas with operations around the world. For more information, please visit http://www.rig.net.Forward Looking StatementsThis press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 – that is, statements related to the future, not past, events. Forward-looking statements are based on the current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address our expected future business and financial performance, including the expected benefits of acquiring and integrating other businesses, and often contain words such as “anticipate,” “believe,” “intend,”, “will”, “expect,” “plan” or other similar words. These forward-looking statements involve certain risks and uncertainties, including those risks set forth in Item 1A – Risk Factors of the Company’s most recent 10-K filing, and ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. For further discussion of risks and uncertainties, individuals should refer to RigNet’s SEC filings. RigNet undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.Investor Relations Contact:
Lee M. Ahlstrom
Senior Vice President and Chief Financial Officer
Tel: +1 (281) 674-0699