PARIS — French and British satellite
operators
Eutelsat and OneWeb announced Tuesday plans to merge and create a
“global champion” in broadband internet, rivalling US giants such as Elon
Musk’s Starlink.
اضافة اعلان
Eutelsat and OneWeb
said in a joint statement that they have signed a memorandum of understanding
to join forces to become “a leading global player in connectivity... in an
all-share transaction.”
Each would hold a
50 percent stake in the combined entity, the statements said.
In what they said
would be “a game-changer in the industry,” Eutelsat would combine its 36-strong
fleet of geostationary Earth orbit satellites with OneWeb’s constellation of
648 low Earth orbit satellites, of which 428 are currently in orbit.
“This
ground-breaking combination will create a powerful global player with the
financial strength and technical expertise to accelerate both OneWeb’s
commercial deployment, and Eutelsat’s pivot to connectivity,” said Eutelsat
chief executive, Eva Berneke.
“The combined
entity will be geared towards profitable growth,” with a potential for
“double-digit” increase in both sales and profit “over the medium to long
term,” both companies said.
Satellite broadband
promises to bring coverage to the most remote areas of the planet by doing away
with the need for antennas and other infrastructure.
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