HOUSTON, Nov. 14, 2018 (GLOBE NEWSWIRE) — RigNet, Inc. (NASDAQ: RNET) , a global leader in customized communications services, announced today that it has signed a memorandum of understanding with Arabsat, the leading satellite communications group in the Middle East and North Africa, to provide the most comprehensive data protection across the Arabsat satellite network.
In partnership, RigNet and Arabsat will target the immediate and growing cybersecurity threat of satellite eavesdropping and network data breaches. Arabsat will begin offering RigNet’s CyphreLink to provide military-grade encryption for location to location communications over satellite and terrestrial networks. CyphreLink™ is an innovative cybersecurity service that provides full data protection with virtually no impact on network latency or performance over satellite or terrestrial networks. The hardware-based encryption enables military-grade data security, with little to no overhead on the payload. CyphreLink prevents eavesdropping and potential data breaches.
“Arabsat is committed to providing its customers with the most secured connectivity,” said Eng. Khalid Balkheyour, President & CEO of Arabsat. “We are determined to accelerate our efforts to provide managed cybersecurity solutions in the region, and with the growing cyber threats, RigNet was the natural partner, providing the industry’s best cybersecurity solution: CyphreLink. Arabsat takes great pleasure in announcing this partnership with RigNet and providing our customers a great added value in securing end-to-end connectivity. This partnership emphasizes that we take cybersecurity for our customers very seriously.”
“As one of the world’s top satellite operators and the leading satellite services provider in the Arab world, Arabsat wants to ensure their customers have the most advanced cyber protection,” says RigNet, President & CEO, Steven Pickett. “We’re excited to partner with Arabsat and provide them with RigNet’s CyphreLink, our best-in-class network-encryption service; it will enable them to maintain the highest level of data protection and network security for their customers.”
RigNet and Arabasat anticipate executing a binding, definitive agreement for the distribution of CyphreLink in the near future.
About RigNet:
RigNet is a global technology company providing customized communications services, applications, real-time machine learning, and cybersecurity solutions to enhance customer decision-making and business performance. RigNet delivers a digital transformation bundle that accelerates technology adoption and empowers customers to be always connected, always secure, and always learning. RigNet is headquartered in Houston, Texas with operations around the world.
For more information on RigNet, please visit www.rig.net. RigNet is a registered trademark of RigNet, Inc.
Media / Investor Relations Contact
Lee M. Ahlstrom Tel: +1 (281) 674-0480
RigNet, Inc. investor.relations@rig.net
About Arabsat:
Operating a growing fleet of owned satellites at the 20°E, 26°E, 30.5°E and 39°E ARABSAT is the only satellite operator in the MENA region offering the full spectrum of Broadcast, Telecommunications and Broadband services. Our capacity continues to expand with the launching of new satellites, making ARABSAT satellites’ fleet the youngest in the region. Arabsat also maintains strategic partnerships with most of the world’s leading satellite companies and VAS integrators and with the acquisition of Hellas Sat, one of the leading telecom groups in southeastern Europe, These partnerships and acquisitions continue to expand Arabsat’s reach with new orbital slots and frequency rights, allowing customers to reach farther than ever and deliver content and state-of-the-art solutions to any end-viewers audience or business partner around the world.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The opinions, forecasts, projections, expected timetable for executing a definitive agreement, benefits and synergies of the proposed agreement, future opportunities, future financial performance and any other statements regarding RigNet’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not statements of historical fact, are forward-looking statements within the meaning of the federal securities laws. RigNet can give no assurance that such expectations will prove to have been correct. These statements are subject to, among other things, execution of a definitive agreement, the risk that the parties are unable to agree a definitive agreement, the ability to realize expected benefits and other risk factors that are discussed in RigNet’s most recent 10-K as well as RigNet’s other filings with the SEC available at the SEC’s Internet site (http://www.sec.gov). Actual results may differ materially from those expected, estimate or projected. Forward-looking statements speak only as of the day they are made, and we undertake no obligation to publicly update or revise any of them in light of new information, future events or otherwise.