Dec 19 SoftBank Group Corp has agreed
to invest $1 billion in OneWeb Ltd, which is building a
constellation of satellites to improve global broadband access,
the Japanese Internet conglomerate and the U.S. startup firm
said on Monday.
The investment is part of a $1.2 billion fundraising by
OneWeb, with the remaining $200 million funded by its current
The announcement comes after SoftBank's founder billionaire
businessman Masayoshi Son pledged a $50 billion investment in
the United States in a meeting with President-elect Donald Trump
OneWeb, established in 2012, aims to provide affordable
internet access "to billions of people around the world," the
company said in a statement.
Existing investors in OneWeb include Qualcomm Inc
and Airbus Group.
(Editing by Keith Weir)