Hughes Network Systems has announced its participation in the winning consortium, led by the U.K. Government and Bharti Enterprises ("Bharti"), that will acquire OneWeb out of bankruptcy.
Hughes has agreed in principle to invest $50 million in the consortium. Additionally, Hughes will continue as a trusted technology and distribution partner to OneWeb, the Low Earth Orbit (LEO) satellite operator which had launched 74 satellites before filing for Chapter 11 protection in March.
"We are pleased to be part of this winning team, along with the British Government and Bharti," said Pradman Kaul, president, Hughes.
"Our continuing and strengthened involvement with OneWeb extends naturally from our position as a leading geostationary satellite operator and ground network innovator, along with a meaningful partnership with Bharti and longstanding relationship with the U.K. through our business operations in both countries."
Mr. Kaul continued: "This global consortium brings the right players together to fulfill the promise of the OneWeb constellation in deploying low-latency services for communities, enterprises, governments, airplanes and ships - complementing geostationary connectivity and ushering in the new era of multi-transport services that will serve growing bandwidth demand around the world. We look forward to doing our part in developing this groundbreaking technology and bringing those services to market."
Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises said "We are delighted to welcome Hughes to the consortium. The investment by Hughes underlines OneWeb's exciting commercial prospects, reflected in the ongoing discussions with some of the world's leading strategic and financial investors."
Consummation of the consortium is contingent upon execution and effectiveness of definitive agreements. Confirmation of OneWeb's reorganization is contingent on certain conditions established by the Bankruptcy Court.
Through its Hughes Europe division, which is headquartered outside of London, and sister company EchoStar Mobile Limited, Hughes has worked closely with the U.K. Government. Furthermore, Hughes Communications India Ltd, (HCIL), a majority-owned subsidiary of Hughes, and Bharti Airtel Limited ("Airtel"), a leading Indian telecom provider affiliated with Bharti, are in the process of combining their satellite broadband operations in India.
The merger, which was announced in 2019, is pending regulatory approvals and is expected to bring greater scale, operational efficiencies and market reach to deliver solutions for enterprise and government networks.
Related Links
Hughes
OneWeb
The latest information about the Commercial Satellite Industry
| Thanks for being there; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution. |
||
| SpaceDaily Monthly Supporter $5+ Billed Monthly |
 |
SpaceDaily Contributor $5 Billed Once credit card or paypal |
SpaceX delays launch of mini-satellites
Washington (AFP) July 11, 2020
SpaceX on Saturday delayed the launch of a rocket due to take 57 mini-satellites into space as part of plan to build an orbiting, global broadband internet system. The company tweeted that it was postponing the 10th Starlink mission "to allow more time for checkouts." It said it was working to identify a new launch window. The mission had been postponed before. The Falcon 9 rocket taking the satellites was also due to have carried two satellites from BlackSky, a SpaceX customer. Saturday ... read more
from Military Space News, Nuclear Weapons, Missile Defense https://ift.tt/2P2Fxux
via space News
No comments: