Energy-sector satellite service provider RigNet, on eve of Viasat purchase, reports 14% decline in 2020 revenue

by Peter B. de Selding

PARIS — Offshore energy platform communications provider RigNet Inc. reported a 14% decline in revenue and a 19% drop in adjusted EBITDA in 2020 and said the drop in satellite bandwidth costs, which is likely to continue, will not necessarily be good news for the company.

Houston, Texas-based RigNet, which is being purchased by satellite broadband hardware and service provider Viasat Inc. in a $222-million, all-stock transaction announced in December — — said its core Mobile Communications Services . . .

To view the entire article, become a subscriber!

You may also like