Update to March 24, 2020 release
HOUSTON, March 25, 2020 (GLOBE NEWSWIRE) -- RigNet (NASDAQ: RNET, “RigNet”), the leading provider of ultra-secure, intelligent networking solutions announced today that it has been awarded a five-year U.S. General Services Administration (GSA) Multiple Award Schedule (MAS) for Information Technology Professional Services contract. This contract includes (3) 5 year renewal periods for a potential contract term of 20 years. Through the GSA Information Technology Large Category - federal, state and local governments now have access to RigNet’s state-of-the-art global networking solutions, enhanced cybersecurity, military-grade hardware encryption and real-time machine learning applications.
“RigNet has a 40-year track record of delivering reliable, high speed and high security communications to the harshest, most remote environments around the world,” said Steve Pickett, CEO and President of RigNet. “We are proud to offer these capabilities to support military and government agencies through this new GSA contract.”
RigNet has also instituted the 171 practices to meet Level 5 under the Cybersecurity Maturity Model Certification (CMMC). While there are currently no formal third party certifications for the CMMC, RigNet is prepared to be certified at the highest level when third party certification becomes available. The CMMC is designed to provide increased assurance to the DoD that a Federal Contractor can adequately protect Controlled Unclassified Information (CUI) at a level commensurate with the risk.
“Even unclassified government communications are sensitive,” said retired Rear Admiral Jamie Barnett, RigNet’s Senior Vice President for Government Services. “In addition to the CMMC, RigNet’s encryption technology, Cyphre, has been validated for FIPS 140-2, further demonstrating RigNet’s best-in-class cybersecurity posture by providing our clients ultra secure data and networking solutions while maintaining high-speeds and reducing overhead on satellite networks.”
With this announcement, RigNet recognizes the work of the many veterans at the company who were instrumental in achieving GSA listing and our CMMC Level 5 self-certification. “We thank our veterans for their contributions,” added Steven Pickett, “and look forward to bringing our technology, expertise and outstanding service to our government customers.”
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About RigNet, Inc.:
RigNet (RNET) delivers advanced software 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. Forward-looking statements are based on the current expectations and include any statement that does not directly relate to a current or historical fact. Our ability to deliver services, improve crew morale, provide data security and detect threats, and enable our customer’s efficiency and financial results are examples of forward looking statements and 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.
Investor Relations Contact:
Lee M. Ahlstrom
Senior Vice President and Chief Financial Officer
Tel: +1 (281) 674-0699