RigNet Inc. (Nasdaq: RNET) has acquired Inmarsat plc’s (LSE: ISAT.L) energy broadband business for $25 million.
The business includes microwave networks in the U.S. Gulf of Mexico and the North Sea, which are used by drillers, oil producers and energy vessel owners, VSAT interests used by the pipeline industry, a telecommunications integration business and a retail energy business. London-based Inmarsat provides mobile satellite communications services.
RigNet, headquartered in Houston, provides communications, systems integration and other services to the oil and gas industry. In August, the company received an investment from Kohlberg Kravis Roberts & Co. LP (NYSE: KKR), which bought a minority stake in RigNet.
Deals have been flowing from the oil and gas industry, as well as from companies that provide services to the industry. Recent transactions include American Midstream Partners LP’s (NYSE: AMID) $100 million purchase of a natural gas gathering systemin January, and CorEnergy Infrastructure Trust Inc.’s (NYSE: CORR) acquisition of a petroleum products terminal facility for $40 million.