RigNet stock (US7735991054): Acquired by Cambium Networks in 2021

RigNet Inc, a provider of managed communications services to remote sites, was acquired by Cambium Networks in a $151 million deal completed in October 2021. The stock no longer trades publicly.

RigNet Inc was acquired by Cambium Networks in October 2021 for approximately $151 million, marking the end of its independent public trading history. The transaction combined RigNet's expertise in managed communications for energy, maritime, and mining sectors with Cambium's wireless networking solutions. Prior to the acquisition, RigNet shares traded on Nasdaq under the ticker RNET.

As of: 14.05.2026

By the editorial team – specialized in equity coverage.

At a glance

• Name: RigNet Inc
• Sector/industry: Telecommunications services
• Headquarters/country: United States
• Core markets: Energy, maritime, mining
• Home exchange/listing venue: Nasdaq (RNET, delisted)

RigNet: core business model

RigNet provided managed communication and collaboration services optimized for energy, maritime, mining, and public safety industries. The company delivered secure, integrated networks to remote locations worldwide, including offshore platforms and onshore facilities. Services encompassed applications like voice, data, collaboration tools, and cybersecurity, tailored for harsh environments.

Founded in 1997 and headquartered in Houston, Texas, RigNet focused on high-reliability connectivity where traditional infrastructure was unavailable. Its business model relied on long-term contracts with energy majors and other operators needing mission-critical communications. The acquisition by Cambium Networks integrated these capabilities into a broader wireless infrastructure portfolio.

Main revenue and product drivers for RigNet

RigNet's revenue primarily came from managed communications services, with a significant portion from the offshore and onshore energy sectors. Key offerings included satellite connectivity, LTE networks, Wi-Fi, and cloud-based SaaS applications for real-time monitoring and collaboration. In its last full fiscal year before acquisition, the company reported revenue of $184.2 million for the period ended December 31, 2020, as detailed in its SEC 10-K filing as of March 2021.

Product drivers included RigNet's Last Mile Communications, which provided end-to-end connectivity, and its cybersecurity solutions protecting sensitive data in remote operations. Maritime services supported vessel tracking and crew welfare, while mining applications enabled IoT sensor networks for equipment monitoring. These segments offered recurring revenue through multi-year service agreements.

Conclusion

RigNet's acquisition by Cambium Networks in 2021 closed a chapter for the Houston-based communications provider, integrating its remote connectivity expertise into a larger entity. Former shareholders received cash consideration, and the RNET ticker was delisted from Nasdaq. US investors tracking telecom services in energy markets may monitor Cambium for ongoing developments from the combined operations.

Disclaimer: This article does not constitute investment advice. Stocks are volatile financial instruments.