RigNet, Inc. announced a restructuring of its Telecoms Systems Integration business into its Managed Services business. In order to better utilize sales, technical, operating and administrative personnel across the businesses and also to refocus the TSI business at projects having better opportunities for recurring communications services, RigNet announced a restructuring of its TSI business effective May 20, 2016. In connection with the restructuring, the former TSI business has been renamed RigNet Systems Integration and Automation and now reports to Hector Maytorena, Group Vice President - Managed Services.

The new integrated structure will result in the reduction of annual costs of approximately $1.0 million. Also, in connection with the restructuring, Mr. Gerry Gutierrez, Group Vice President of TSI departed the company.