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buy apple account:SoftBank Group, Hughes invest in British satellite communications firm OneWeb


FILE PHOTO: A Soyuz-2.1b rocket booster carrying the satellites of British firm OneWeb blasts off from a launch pad at the Vostochny Cosmodrome in Amur Region, Russia December 18, 2020. Russian space agency Roscosmos/Handout via REUTERS (Reuters) - Britain's OneWeb said on Friday that SoftBank Group Corp and Hughes Network Systems LLC had invested in the satellite communications company, bringing its total funding to $1.4 billion.Founded by entrepreneur Greg Wyler in 2014, OneWeb aims to provide high-speed broadband internet services globally using low earth orbit satellites, taking on a similar offering by Elon Musk's SpaceX.The funding would allow OneWeb to cover the costs for its network of 648 satellites, expected to be ready by the end of 2022.SoftBank Group, a former investor in OneWeb, had pulled the plug on funding earlier, forcing OneWeb to file for bankruptcy protection in March.The company emerged from Chapter 11 bankruptcy protection in November as a consortium comprising the UK government and India's Bharti Enterprises invested $1 billion in the company and took its ownership. (Reporting by Chavi Mehta in Bengaluru; Editing by Vinay Dwivedi)

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  • 2021-02-21 00:07:18