The satellite operator is set to acquire approximately 24% of satellite internet constellation developer OneWeb, which already has several corporate backers.
Satellite operator Eutelsat Communications agreed yesterday to invest $550m in UK-headquartered satellite internet technology developer One Web, in return for a stake sized at about 24%.
OneWeb is building a 648-satellite constellation intended to provide broadband coverage to remote areas from low orbit. The initial system is expected to be operational by the end of this year and it said Eutelsat’s capital will take it most of the way towards its funding goal.
The company had raised a total…
