HOUSTON, Nov. 17, 2014 (GLOBE NEWSWIRE) -- RigNet, Inc. (Nasdaq:RNET), a leading global provider of managed remote communications solutions, telecoms systems integration services and collaborative applications to the oil and gas industry, today announced it has been ranked 430 on Deloitte's 2014 Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. RigNet's revenue grew 173 percent over the evaluation period from 2009 to 2013. Overall, 2014 Technology Fast 500™ companies achieved revenue growth ranging from 135 percent to 123,678 percent, with an average growth rate of 1,640 percent.
RigNet's president and chief executive officer, Mark Slaughter, credits RigNet's dedicated employees and great customers with mission critical needs as key factors driving the Company's high revenue growth. Slaughter said, "RigNet's business model of managed remote communications solutions clearly resonates well with our demanding oil and gas customers who value our near-global footprint, reliable networks, robust solutions and superior customer service."
About Deloitte's 2014 Technology Fast 500™
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2009 to 2013.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have 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, companies must be in business for a minimum of five years and be headquartered within North America.
About RigNet
RigNet (Nasdaq:RNET) is a leading global provider of managed remote communications, telecoms systems integration and collaborative applications dedicated to the oil and gas industry, focusing on offshore and onshore drilling rigs, energy production facilities and energy maritime vessels. RigNet provides solutions ranging from fully-managed voice and data networks to more advanced applications that include video conferencing and real-time data services to over 1,200 remote sites in over 45 countries on six continents, effectively spanning the drilling and production industry. RigNet is based in Houston, Texas. For more information, please visit www.rig.net. RigNet is a registered trademark of RigNet, Inc.