M&A Deal Summary

ViaSat Acquires RigNet

On December 21, 2020, ViaSat acquired communications company RigNet from KKR for 222M USD

Acquisition Highlights
  • This is ViaSat’s 4th transaction in the Communications sector.
  • This is ViaSat’s 3rd largest (disclosed) transaction.
  • This is ViaSat’s 8th transaction in the United States.
  • This is ViaSat’s 2nd transaction in Texas.

M&A Deal Summary

Date 2020-12-21
Target RigNet
Sector Communications
Buyer(s) ViaSat
Sellers(s) KKR
Deal Type Add-on Acquisition
Deal Value 222M USD
Advisor(s) Lazard Middle Market (Financial)
Baker Botts (Legal)

Target

RigNet

Houston, Texas, United States
RigNet, Inc. is a provider of managed communications, networks and collaborative applications dedicated to the oil and gas industry. RigNet provides solutions ranging from fully-managed voice and data networks to more advanced applications that include video conferencing and real-time data services to remote sites in over 30 countries on six continents, effectively spanning the drilling and production industry. RigNet was founded in 2000 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

ViaSat

Carlsbad, California, United States

Category Company
Founded 1986
Sector Communications
Employees6,100
Revenue 4.3B USD (2024)
DESCRIPTION
Entrance to ViaSat's corporate headquarters in Carlsbad, California.
Entrance to ViaSat's corporate headquarters in Carlsbad, California.

ViaSat develops satellite communication systems and equipment for the US government and select commercial customers. ViaSat conducts its business through three segments: satellite services, commercial networks and government systems. ViaSat was founded in 1986 and is based in Carlsbad, California.


DEAL STATS #
Overall 10 of 11
Sector (Communications) 4 of 5
Type (Add-on Acquisition) 8 of 9
State (Texas) 2 of 2
Country (United States) 8 of 8
Year (2020) 2 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-19 Euro Broadband Infrastructure Sarl

Nyon, Switzerland

Euro Broadband Infrastructure Sarl provides fixed and mobile broadband services on a wholesale basis in the European and Mediterranean markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-08 Inmarsat

London, United Kingdom

Inmarsat is a global mobile satellite communications provider that owns and operates a diverse global portfolio of mobile telecommunications satellite networks, and holds a multi-layered, global spectrum portfolio, covering L-band, Ka-band, and S-band, enabling unparalleled breadth and diversity in the solutions it provides. Inmarsat's long-established global distribution network includes not only the world's leading channel partners but also its own strong direct retail capabilities, enabling end-to-end customer service assurance. The company has an unrivalled track record of operating reliable global mobile satellite telecommunications networks, sustaining business and mission critical safety and operational applications for more than 40 years. It is also a major driving force behind technological innovation in mobile satellite communications, sustaining its leadership through a substantial investment and a powerful network of technology and manufacturing partners. Inmarsat was formed in 1979 and is based in London.

Buy $7.3B

Seller(S) 1

SELLER

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 151 of 204
Sector (Communications) 5 of 8
Type (Add-on Acquisition) 52 of 66
State (Texas) 9 of 9
Country (United States) 64 of 89
Year (2020) 16 of 16
Size (of disclosed) 36 of 38
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-15 T-Solar Global SA

Madrid, Spain

T-Solar Global SA is a generator of solar photovoltaic (PV) power to European clients. T-Solar Global was formed in 2006 and is based in Madrid, Spain.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 PropertyGuru

Singapore, Singapore

PropertyGuru is an online property portal group focused on serving clients across Singapore, Malaysia, Indonesia, and Thailand. PropertyGuru was formed in 2006 and is based in Singapore.

Sell -