​​​
  1. Bharti Enterprises acquires minority stake in satellite firm OneWeb

Bharti Enterprises acquires minority stake in satellite firm OneWeb

In a bid to provide affordable Internet access to all, Bharti Enterprises has acquired a minority stake in OneWeb.

By: | London | Published: June 25, 2015 6:27 PM
Bharti Enterprises and One Web

‘OneWeb, an innovative system backed by leading global corporations, will complement the efforts of governments and telecom operators across the globe to take internet to the masses,’ Bharti Enterprises Chairman Sunil Bharti Mittal said in a statement. (Reuters)

In a bid to provide affordable Internet access to all, Bharti Enterprises has acquired a minority stake in OneWeb, which plans to offer communication services using satellites by 2019.

OneWeb has received USD 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 high speed 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 internet 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 Smasung and Qualcomm.

OneWeb satellites will provide high speed connectivity to a small user terminal which transmits broadband access via WiFi, LTE, 3G and 2G to surrounding area.

Users will be able to access Internet through these terminals. OneWeb said its terminals will connect to devices either on unlicensed frequencies, or using their partner operators’ frequencies to provide coverage.

The terminals can be placed on any home or business and a cable can be run into the house to connect to a small device similar to a cable modem. At the same time the terminal would, if necessary provide the local wireless coverage.

“In India, which is on the cusp of a massive data revolution, hundreds millions of consumers in rural areas will benefit from this initiative and it will boost Government’s Digital India programme and its vision of broadband access for all,” Mittal said.

Seven global corporations, including Qualcomm Inc, Virgin Group, Airbus Group, Bharti Enterprises, The Coca-Cola Company, Grupo Salinas, and Intelsat, have joined the communications initiative.

For Updates Check Company News; follow us on Facebook and Twitter

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

  1. No Comments.

Go to Top