The Hanwha subsidiary is set to take an 8.8% stake in the satellite connectivity provider, helping increase its funding to $2.7bn since it was salvaged from bankruptcy last year.

Hanwha Systems, an intelligent technology subsidiary of conglomerate Hanwha, agreed yesterday to pay $300m to acquire an 8.8% stake in UK-headquartered satellite internet services provider OneWeb.

The deal is set to close in early 2022, conditional on regulatory approvals, after which OneWeb will name a board director to represent Hanwha. The investment will lift OneWeb’s overall equity funding to $2.7bn since it emerged from bankruptcy in November 2020.

Founded in 2012, OneWeb is building a network of some 650 low…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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