O3b Boasts Contracts

Secured more than $200 million in customer contract backlog in the last quarter of 2008

January 13, 2009

1 Min Read

ST. JOHN, Jersey, Channel Islands -- O3b Networks, the developer of a new fibre quality, satellite-based, global Internet backbone, announced today that in the last quarter of 2008 they secured more than $200 million in customer contract backlog. "O3b's execution is very impressive to date." said Jeremy Rose, Principal Consultant at COMSYS (Communication Systems Limited). "Their combination of fibre quality service with satellite reach and reliability is being well received. The developed world has shown to emerging markets the value of a reliable communications infrastructure. As emerging markets continue to invest in their infrastructure, the ability to connect to the global communications infrastructure becomes increasingly important."

O3b Networks, funded principally by Google Inc., Liberty Global, Inc. and HSBC Principal Investments, announced in September 2008 they will deploy the world’s first ultra-low-latency, Medium Earth Orbit (MEO), Ka-band, fibre-speed satellite network. By providing operators an affordable solution for interconnecting with the global Internet, O3b Networks will significantly improve Internet access for millions of consumers and businesses in emerging and developing markets. Service activation is scheduled for late 2010.

“The adoption rate by customers has exceeded our expectations. There is tremendous pent up demand for affordable, low latency, backhaul service. In our first few months of sales we received firm contract commitments for over 7Gbps of capacity,” said Greg Wyler, CEO of O3b Networks, Ltd. “Telecom operators and ISPs need high speed, low latency backhaul service in order to provide affordable, quality Internet access to their customers. We are hearing from operators that, with the deployment of O3b services, demand for Internet access will grow as communications prices decrease and connectivity speeds increase.”

O3b Networks Ltd.

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