RigNet enters Kazakhstan through acquisition of Munaicom
RigNet enters Kazakhstan through acquisition of Munaicom
HOUSTON -- RigNet has acquired Timas Munaicom, an oilfield communications company based in Almaty, Kazakhstan.
This acquisition positions RigNet to provide remote communications services in Kazakhstan, and serves as a beachhead for further expansion in Central Asia. Under the terms of the deal, RigNet acquires 49% of the shares in Munaicom. Following the acquisition, Munaicom remains a licensed telecommunications provider in Kazakhstan.
Initially, the company will continue to operate in Kazakhstan under the name Munaicom. Both companies expect business operations to continue as usual.
Established in 2011, Munaicom acquired its valid provider's license for the provision of VSAT services in November 2011.
