June 2, 2017 -- Today, OneWeb terminated the Combination Agreement with Intelsat after Intelsat’s bondholders were unable to reach an agreement on the exchange offer.
OneWeb founder Greg Wyler said: “While we were excited about the prospects of working even more closely with our shareholding partner Intelsat, OneWeb remains on the fast track to bridge the digital divide. In just a few weeks, we will inaugurate the world’s first fully digital satellite production line in Toulouse, France. About 10 months later, we will begin launching our Ultra-Compact, Ultra-High throughput satellites which will shatter historical mass/performance records for small satellites with just over 13kg of mass per Gbps of capacity.”
“Our first constellation will bring more than 7 Terabits per second of needed capacity to the world’s unserved. We recently announced our preparation to bring these communications services to Alaska starting in 2019, and country by country, we will bridge the digital divide enabling education, government, and tele-medicine services for the billions of people around the world who are currently underserved” Wyler went on to add.
OneWeb’s mission is to enable affordable Internet access for everyone, to connect all the unconnected schools of the world, and to fully bridge the digital divide by 2027. OneWeb is building a communications network, with a constellation of Low Earth Orbit satellites, that will provide connectivity to billions of people around the world. OneWeb will extend the networks of mobile operators and ISPs to serve new coverage areas, bringing connectivity and voice and data communications to consumers, businesses, schools, healthcare institutions and other end users.