[SatNews] "RigNet's reach is greater than ever before as a result of this acquisition."
RigNet, Inc. (RNET), a leading global provider of managed remote communications solutions, telecoms systems integration services and collaborative applications to the oil and gas industry, today announced that it has acquired Timas Munaicom TOO ("Munaicom"), an oilfield communications company based in Almaty, Kazakhstan.
This acquisition positions RigNet to provide remote communications services in Kazakhstan, and serves as a beachhead for further expansion in Central Asia. Under the terms of the deal, RigNet acquires 49 percent of the shares in Munaicom. Following the acquisition, Munaicom remains a licensed telecommunications provider in Kazakhstan.
"RigNet's reach is greater than ever before as a result of this acquisition," said Hector Maytorena, RigNet's group vice president, Eastern Hemisphere. "RigNet now has the ability to serve customers within Kazakhstan, with plans to expand more broadly within the Central Asian region."
Initially, the company will continue to operate in Kazakhstan under the name Munaicom. Both companies expect business operations to continue as usual.
Established in 2011, Munaicom acquired its valid provider's license for the provision of VSAT services in November 2011.
Please visit www.rig.net to learn more.