SoftBank Inks 'Business Agreement' to Support OneWeb's Launch Plans
SoftBank Corp. (“SoftBank”) and OneWeb Ltd. (“OneWeb”), whose shareholders include SoftBank Group Corp. and other global blue-chip companies, today announced a business agreement to advance OneWeb's commercial services in preparation for OneWeb's high speed, low latency global connectivity services.
OneWeb is building a communications network with a constellation of Low Earth Orbit satellites that will provide Internet connectivity to people around the world. Following the successful launch of its first six satellites in February 2019, OneWeb plans to launch more than 30 satellites per rocket on a monthly basis starting at the end of 2019 to build a global network of approximately 650 satellites that will deliver commercial demos starting in 2020 and commercial services starting in 2021.
With its extensive track record as a telecommunications operator, SoftBank has built up technological capabilities, insights and know-how in satellite solutions from a user perspective. Leveraging SoftBank's expertise, OneWeb and SoftBank will work together to execute the deployment plan and support end-user product development and build commercial partnerships.