Thursday, August 11, 2022
HomeEntertainmentSatellite firms Eutelsat and OneWeb aim to combine operations: Technology Updates Today

Satellite firms Eutelsat and OneWeb aim to combine operations: Technology Updates Today

In the latest Technology news today you are going to get all the information about a movie Satellite firms Eutelsat and OneWeb aim to combine operations

OneWeb, a satellite firm with headquarters in London that the British government helped save in part from bankruptcy, will merge with Eutelsat, which has its headquarters in Paris.

In the UK firm, the French corporation already held a 23 percent stated. According to the operators, the joint mission will give both parties a better opportunity to realize the upcoming business potential.

To offer internet broadband connections all across the world, OneWeb is constructing a constellation in low Earth orbit.

At a height of 36,000 km, Eutelsat is 30 times higher in the sky and in a position known as a geostationary orbit. In the realm of direct-to-home TV, it is one of the largest distributors.

More About Eutelsat and OneWeb aim to combine operations

Eutelsat and OneWeb

According to Eutelsat CEO Eva Bernanke, “this transaction will bring a unique capability across the satellite sector with a fully integrated GEO/LEO service.”Customers will have access to all types of satellite connectivity from one place.

Our new company will have a distinctive position in the rapidly expanding connectivity market. By 2030, this is projected to be worth approximately €16 billion (£13.6 billion).”

Although the union has been referred to as a “merger of equals,” Eutelsat has a considerably longer lineage because it began as a pan-European intergovernmental organization 45 years ago.OneWeb, on the other hand, has recently been a startup.

In order for Eutelsat to possess 100% of OneWeb at the close, the transaction will be set up as an exchange of OneWeb shares owned by its shareholders (other than Eutelsat) for new shares issued by Eutelsat (bar a “golden share” held by the UK government).

Shareholders of OneWeb would get 230 million newly issued Eutelsat shares, which would account for half of the increased share capital. Both the companies’ respective headquarters in the capitals of France and the United Kingdom will continue to use their current names.

The objective is to obtain listings on the stock exchanges in both Paris and London. The purchase won’t close until the beginning of 2023 if everything goes according to plan because it needs regulatory permission.

According to commentators, the merger benefits both parties. In order to diversify away from its traditional video markets, which are largely flat, Eutelsat has been working for some time.

These sectors of connectivity, such as those that connect ships, aircraft, and remote or mobile customers, have better growth potential. OneWeb will profit from having the ability to raise money that comes with being the older sibling.

The London company will require funding to maintain and grow its LEO constellation. It will attempt to reach 7,000 satellites in later generations, but for its first generation, it is aiming for 650 satellites for worldwide coverage.

”The (Generation One) fleet is already deployed in two-thirds. And currently, the majority of the satellites needed to complete the constellation are produced, according to Neil Masterson, chief executive of OneWeb.

”Gen One has already raised €6.3 billion, therefore it is completely funded. Additionally, Gen Two, which is currently being evaluated, will offer even greater capacity at a significantly lower cost.

Following its loss of access to Russian Soyuz rockets, OneWeb has struggled in its efforts to deploy the Gen One satellites. OneWeb was left searching for alternate transportation when Moscow pulled the Soyuz vehicles off the market in response to the West’s sanctions against Russia for its invasion of Ukraine.

It has now hired a number of launch service providers, with California’s SpaceX being the most relevant as it is now developing its own broadband constellation, Starlink.

In order to save OneWeb from bankruptcy in 2020, the UK government contributed $500 million (€490 million; £420 million). Due to its golden share, it has some control over corporate decisions, but like all other current OneWeb owners, it accepted the company’s merger with Eutelsat.

For more such news related to the latest Technology news, today and all important global news do visit our website.

- Advertisment -

Most Popular

Recent Comments

%d bloggers like this: