Aug 1, 2019

RigNet Signs Multiple Long-Term Strategic Agreements with Transocean

HOUSTON, Aug. 01, 2019 (GLOBE NEWSWIRE) -- RigNet (NASDAQ: RNET, the company), the leading provider of ultra-secure, intelligent networking solutions, announced today that it has signed two multi-year agreements with Transocean, one of the world’s largest offshore drilling contractors. RigNet is providing rig analytic applications through Intelie Live, the company’s real-time analytics platform, to help improve operational integrity and efficiency. RigNet has also introduced its first implementation of LIVE-IT, Rignet’s IT-as-a-Service (ITaaS) solution, which assists with assets related to Transocean’s Data Acquisition Real-Time Information Centers (DARIC) including OSISoft Pi SCADA. Under the agreement, RigNet moved to full implementation after 6-month proof of concept period.

Intelie Live is currently deployed on more than a dozen of Transocean’s ultra-deep-water rigs with plans to expand to the entire fleet by the end of 2019.

“We are very proud to announce that Intelie was selected by Transocean,” said Steven Pickett, Chief Executive Officer and President of RigNet. “This is a testament to the unique capabilities and custom services of Intelie’s technology platform to help companies like Transocean transform their data into actionable opportunities.”

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 Statements

This 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. Examples of forward looking statements in this press release include expectations related to revenues to be recognized and additional rig deployments. 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.

For more information on RigNet, please visit www.rig.netRigNet is a registered trademark of RigNet, Inc.

Investor Relations Contact:
Lee M. Ahlstrom
Senior Vice President and Chief Financial Officer
RigNet, Inc.
Tel: +1 (281) 674-0699

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Source: RigNet, Inc.