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Softbank puts USD 1 bln into OneWeb

Monday 19 December 2016 | 15:06 CET | News
OneWeb said it raised USD 1.2 billion during its latest funding round, led by Softbank with USD 1 billion, as well as existing investors. OneWeb said the money will be used to support its technological development and the construction of a high volume satellite production facility, in Exploration Park, Florida. The investment transaction is expected to close in the first quarter of next year, subject to the satisfaction of certain customary closing conditions and regulatory approvals. In connection with the investment, SoftBank director Ronald Fisher will join OneWeb's board of directors.

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Categories: Internet / Broadcast & Satellite
Companies: Bharti Enterprises / EchoStar / Hughes Network Systems / Intelsat / Qualcomm / Softbank
Countries: United States / World
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