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Hughes to join OneWeb consortiumBroadband World News, , 7/27/2020
GERMANTOWN, Md. – Hughes Network Systems, LLC, the global leader in broadband satellite networks and services, today announced its participation in the winning consortium, led by the U.K. Government and Bharti Enterprises, that will acquire OneWeb out of bankruptcy. Hughes has agreed in principle to invest $50 million in the consortium. Additionally, Hughes will continue as a trusted technology and distribution partner to OneWeb, the Low Earth Orbit (LEO) satellite operator which had launched 74 satellites before filing for Chapter 11 protection in March. Consummation of the consortium is contingent upon execution and effectiveness of definitive agreements. Confirmation of OneWeb's reorganization is contingent on certain conditions established by the Bankruptcy Court. Through its Hughes Europe division, which is headquartered outside of London, and sister company EchoStar Mobile Limited, Hughes has worked closely with the U.K. Government. Furthermore, Hughes Communications India Ltd, a majority-owned subsidiary of Hughes, and Bharti Airtel Limited, a leading Indian telecom provider affiliated with Bharti, are in the process of combining their satellite broadband operations in India. The merger, which was announced in 2019, is pending regulatory approvals and is expected to bring greater scale, operational efficiencies and market reach to deliver solutions for enterprise and government networks. |
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