The bankrupt satellite internet system developer, which had raised more than $3bn from multiple corporates, has been acquired by a consortium including existing investor Bharti.
UK-based satellite internet services provider OneWeb was purchased by one of its existing shareholders, conglomerate Bharti Enterprises, and the UK government on Friday with a winning bid of more than $1bn.
Bharti Enterprises’ UK subsidiary, Bharti Global, and the British government, represented by the Secretary of State for Business, Energy and Industrial Strategy – a position currently held by Alok Sharma – each put in $500m.
Founded in 2012 as WorldVu, OneWeb is building a 650-satellite constellation intended to deliver…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
