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Eutelsat Wins "strategic Transaction of the Year” Award for Its Investment in OneWeb
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PARIS--(BUSINESS WIRE)--
Regulatory News:
Eutelsat communications (Euronext Paris: ETL) is delighted to receive the "Strategic Transaction of the Year” award at this year's World Satellite Business Week in recognition of its strategic investment in LEO constellation operator, OneWeb.
The award is a recognition of Eutelsat's strategic move in April 2021 to take a leading stake in OneWeb alongside Bharti Global and the UK government. The transaction consolidates Eutelsat's position as the only global satellite operator combining resources in geostationary orbit with unique access to the Low Earth Orbit segment.
The aggregate investment by Eutelsat amounts to USD 715 million, giving it a 22.9% stake in OneWeb1 and making it OneWeb’s second largest shareholder. Eutelsat's equity investment comes with significant governance rights, including representation on the Board of Directors, while Eutelsat's market position and technical expertise as a world-class satellite operator will play a pivotal role in the success of this new constellation.
OneWeb has gained remarkable momentum since Eutelsat's investment, both on the operational front, with over half of its fleet already in orbit and soon to partially enter into service, and on the commercial front, with a number of major agreements with top-tier distributors and customers including AT&T, BT, Hughes, NorthwesTel, Peraton and NEOM.
Eutelsat Deputy CEO Michel Azibert commented on the award: "We are honoured to receive this recognition of Eutelsat's investment in OneWeb which has given us a foothold in the Low Earth Orbit segment. The award cements the company's ambition to position itself as an operator capable of harnessing the potential of this valuable ecosystem for addressing high growth services, taking advantage of the opportunities offered by 5G and the Cloud for low-latency applications. It was crucial for Eutelsat to move into the LEO orbit quickly, as it has room for only a handful of constellations. With this investment, Eutelsat is playing its part in keeping the European space industry fully in the game.”
About Eutelsat Communications
Founded in 1977, Eutelsat Communications is one of the world's leading satellite operators. With a global fleet of satellites and associated ground infrastructure, Eutelsat enables clients across Video, Data, Government, Fixed and Mobile Broadband markets to communicate effectively to their customers, irrespective of their location. Around 7,000 television channels operated by leading media groups are broadcast by Eutelsat to one billion viewers equipped for DTH reception or connected to terrestrial networks. Headquartered in Paris, with offices and teleports around the globe, Eutelsat assembles 1,200 men and women from 50 countries who are dedicated to delivering the highest quality of service.
