Eutelsat communications 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 OneWeb[1] 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.”
