November 3, 2009
RigNet Ranks 126 on Deloitte's 2009 Technology Fast 500TM
Houston, TX, November 2, 2009 - RigNet, Inc., a leading independent provider of remote communications and collaborative applications to the global oil and gas industry, is ranked No. 126 this year on the Technology Fast 500TM list, Deloitte LLP's ranking of 500 of the fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America, announced Mark Slaughter, RigNet CEO & President.
Rankings are based on the percentage of fiscal year revenue growth during the five-year period from 2004 through 2008, during which RigNet grew a total of 1,226 percent.
Slaughter credits the company's tremendous success with its engineering prowess, leading-edge networks, and global positioning of people and assets, which deliver industry-leading customer satisfaction. "RigNet continues to focus on overall growth strategies in the midst of this economic downturn. We proudly accept this award, as it demonstrates the tremendous value the oil and gas industry receives from RigNet's business model of managed communications solutions, allowing customers to focus on their core activities of finding and producing oil and natural gas," Slaughter said.
RigNet has earned a spot on Deloitte's Technology Fast 500TM list each year since 2006, making 2009 the company's fourth consecutive year to receive the award. RigNet ranked 117, 128, and 23 in 2008, 2007, and 2006, respectively. Earlier this year, RigNet was named to Inc. Magazine's annual list of fastest-growing private companies in America with a ranking of 452.
Technology Fast 500TM Selection and Qualifying Criteria
The Technology Fast 500TM provides a ranking of the fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500TM website, and public company database research conducted by Deloitte LLP. Technology Fast 500TM award winners for 2009 are selected based on percentage fiscal year revenue growth during the five-year period from 2004 to 2008. In order to be eligible for Technology Fast 500TM recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues. Using other companies' technology or intellectual property in a unique way does not satisfy this requirement. Consulting companies and professional service firms are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues.
Technology Fast 500TM award eligibility requirements include base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, these revenues must have more than doubled between 2004 and 2008. Also, companies must be in business for a minimum of five years, and be headquartered within North America.
About RigNet, Inc.
RigNet, Inc. is a leading global provider of managed communication services exclusively to the oil and gas industry - bringing premier communications, networking and collaboration services to provide global reach, superior performance and maximum reliability for offshore rigs, land rigs and remote office locations. The Company holds the prestigious Cisco Powered Network designation, meeting the most stringent standards for network reliability and performance, and was recently named one of America's fastest-growing private companies as ranked in Inc. Magazine's distinguished Inc. 500. RigNet has worldwide installations throughout 34 countries and six continents, spanning the global drilling and production industry. Based in Houston, Texas, RigNet has offices in Brazil, Malaysia, Nigeria, Norway, Qatar, Saudi Arabia, Singapore, United Arab Emirates, United Kingdom and throughout the United States. For more information, please visit http://www.rig.net/.
