Deal Description: December 21, 2020 – RigNet, Inc. (NASDAQ: RNET) (“RigNet”) has entered into a definitive agreement to be acquired by Viasat, Inc. (NASDAQ: VSAT) (“Viasat”), in a transaction valued at approximately $222 million. The consideration to each RigNet common stockholder will consist of 0.1845 shares of Viasat common stock for each share of RigNet common stock. RigNet is a leading provider of ultra-secure, intelligent networking solutions and specialized applications, and its combination with Viasat would help create a vertically integrated communications company serving customers in industries that include government, airlines, residential, energy, and others by providing cutting-edge connectivity from the satellite to the end customer and delivering premier managed communications services coupled with a suite of advanced application solutions that include real-time machine learning and advanced cybersecurity. The merger is subject to RigNet stockholder approval and customary closing conditions and regulatory approvals.
Baker Botts L.L.P. is representing RigNet in the transaction.
Baker Botts Lawyers/Office Involved:
Corporate: Ed Rhyne (Partner, Houston); Jim Marshall (Partner, Houston); Jamie Yarbrough (Associate, Houston); Jack Chadderdon (Associate, Houston); Sean Aguirre (Associate, Houston)
Employee Benefits: Laura McDaniels (Special Counsel, Palo Alto); Gabriela Alvarez (Associate, Houston)
Tax: Robert Phillpott (Partner, Houston); Katie McEvilly (Associate, Houston)
Antitrust: Paul Cuomo (Partner, Washington, D.C.); Catriona Hatton (Partner, Brussels)
For more information, please see RigNet’s news release.
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