The Deloitte Technology Fast 50 annually recognizes the fifty fastest-growing technology, media, telecommunications and life sciences companies in Texas, based on percentage of revenue growth over five years (2001 - 2005). RigNet's revenue growth of 10,810 percent from 2001 to 2005 resulted in the number 2 ranking in the Texas Technology Fast 50, and the number 1 ranking in Houston, the fourth-largest city in the United States. The average increase in revenues among companies who made the Texas Technology Fast 50 for this region was 2,225 percent.
"Our growth during the past five years has been truly phenomenal" said Omar Kulbrandstad, chief executive officer of RigNet, Inc. "The entire RigNet global team, working together, and serving the needs of our customers, is a great part of our success. Over the past five years, new customer relationships initiated in domestic and foreign markets have turned into long-term, expanded business partnerships on a global scale. I want to thank all RigNet staff for their dedication and hard work, and for making sure that we have the most satisfied customers in this business."
To qualify for the Texas Technology Fast 50, companies must have operating revenues of at least $50,000 in 2001 and $5,000,000 in 2005, be headquartered in Texas, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology.
Addressing the communications challenges faced by oil and gas companies today in remote locations, RigNet uses the leading satellite and networking technologies to provide a high-quality solution for broadband data, voice and video communications, as well as real-time data management. RigNet installs, manages and supports communication systems without requiring its customers to invest in and manage expensive telecommunications equipment, allowing them to redirect valuable resources to their core businesses. RigNet real-time data management acquires, distributes and manages real-time and historical well site data.
RigNet, Inc., is a provider of managed communication services exclusively to the upstream oil and gas industry. The Company holds the prestigious Cisco Powered Network designation, meeting the most stringent standards for network reliability and performance. RigNet has worldwide installations throughout 21 countries and 6 continents, spanning the global offshore drilling and production industry. Based in Houston, Texas, RigNet has offices in Louisiana, Brazil, Malaysia, Nigeria, Norway, Qatar, Saudi Arabia, Singapore, UAE and the UK.
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