SoftBank backs Intelsat-OneWeb merger

OneWeb satellite

An artist’s conception shows a OneWeb satellite in orbit. (OneWeb Illustration)

Intelsat and OneWeb today laid out plans for a mega-merger aimed at bolstering their satellite internet services, with a $1.7 billion investment boost from SoftBank.

The arrangement is a head-turner, due to the complicated conditions of the deal as well as its ambitious objective. It comes just a couple of months after Japan-based SoftBank announced a $1 billion investment in OneWeb, which is gearing up to launch a constellation of satellites for global internet access.

“We believe that combining Intelsat with OneWeb will create an industry leader unique in its ability to provide affordable broadband anywhere in the world,” Intelsat CEO Stephen Spengler said in a news release.

Get the full story on GeekWire.

About Alan Boyle

Aerospace and science editor for GeekWire, creator of Cosmic Log, author of "The Case for Pluto: How a Little Planet Made a Big Difference," president of the Council for the Advancement of Science Writing. Check out "About Alan Boyle" for more fun facts.
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