RigNet snaps up Scots peer Nessco for £31m

AN ABERDEEN technology company specialising in the oil and gas industry has been bought by a US communications group in a deal worth up to £31.1 million.

The cash deal agreed by Nasdaq-listed RigNet to acquire Nessco will trigger multi-million pound windfalls for directors of the Scottish company which is half-owned by private equity group Maven.

The combined business will operate under the US company’s brand and RigNet’s existing Aberdeen operations will be moved into Nessco’s facility, with operations led by Ian McPherson, currently managing director of Nessco.

No redundancies are expected from the move and it is understood the senior management team is staying with the business.

Founded in 1979, Nessco designs and installs telecommunications systems including digital radio, voice and data networks, closed circuit television, marine communications and satellite networks.

It employs more than 120 staff in Aberdeen along with a satellite office in Brazil and is involved in projects for oil and gas sector clients in the UK and across the world.

“We are excited to join the RigNet family and consider this transaction a win-win for both organisations,” said McPherson.

Texas-based RigNet specialises in providing voice and data services including video conferencing facilities to remote oil and gas drilling and production sites in more than 30 countries.