The Financial Times reports that the world’s largest satellite operator, SES Global, has invested $75 million in the Google-backed satellite broadband service O3b Networks, which promises to provide broadband access to the “other three billion” people who can’t get broadband now.
It previously raised $88 million from Google, Liberty Global, HSBC and North Bridge Venture Partners.
O3b’s goal is to make available a low-latency, fiber optic speed backbone for telcos that can provide broadband access to 70% of the world’s population, especially where wireline broadband networks aren’t available. O3b expects to launch eight satellites initially and has $600 million in pre-launch orders.
SES brings more than money: It has expertise in buying and launching satellites, and it will help sell Ob3’s services to telcos. SES CEO Romain Bausch told the Financial Times that his company expects to own 30% when the equity fundraising ends after another $100 million or so has been raised. Bausch also said the company is putting up three replacement satellites to satisfy the growing demand for HD video by BSkyB and the BBC.