O3b raises USD 460 mln to expand satellite fleet

News Video Global 10 DEC 2015
O3b raises USD 460 mln to expand satellite fleet
Satellite operator O3b Networks announced that it has closed USD 460 million in incremental financing to support the company’s growth. The funds will be used to expand the total number of satellites in O3b’s constellation from twelve to twenty, helping to accommodate the growing demand for its high-throughput connectivity. 

O3b began full commercial operations in September 2014 and now counts more than 40 customers worldwide. O3b said that over half of customers upgraded their service commitments to O3b during the first year of commercial operation. It expects further growth in 2016 in the energy and government sectors. Further details on the new financing were not disclosed. 


 

Categories:

Satellite

Companies:

O3b Networks

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Global

Tags:

Production planning & operations, Satellite, Financial funding

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