Airtel buys minority stake in satellite company OneWeb
In a bid to provide affordable Internet access to all, Bharti Airtel has acquired a minority stake in OneWeb, which plans to offer communication services using satellites by 2019. OneWeb has received $500 million for the project from its investors and plans to launch services by 2019.
OneWeb, founded in 2012, is building a communication network with an initial constellation of 648 low earth orbit satellites. Investors in the company include Qualcomm Inc, Virgin Group, Airbus Group and Coca-Cola Company.
Airtel did not share investment details in OneWeb but said it will be able to leverage the investment by becoming a preferred distributor of these services across its operations in 20 countries in Asia and Africa. “Access to affordable <g data-gr-id="23">high speed</g> Internet is a powerful tool for economic development and empowerment of populations, particularly in emerging economies. OneWeb, an innovative system backed by leading global corporations, will complement the efforts of governments and telecom operators across the globe to take <g data-gr-id="22">internet</g> to the masses,” Bharti Enterprises Chairman Sunil Bharti Mittal said in a statement.
The OneWeb mission is like the Facebook-led Internet.org initiative which states that it aims to bring 5 billion people online in partnership with tech giants like <g data-gr-id="19">Smasung</g> and Qualcomm. OneWeb satellites will provide <g data-gr-id="16">high speed</g> connectivity to a small user terminal which transmits broadband access via WiFi, LTE, 3G and 2G.