O3b Secures $1.2 Billion Financing From SES, Google
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O3b Networks Limited, the developer of a satellite network for phone and Internet operators in emerging markets, said it completed a $1.2 billion funding plan with banks and investors including SES SA and Google Inc.
O3b, which stands for the “other 3 billion,” or the half of the world ‘s population that doesn’t have access to broadband Internet, plans to combine “the speed of fiber optics with the reach of satellite, serving billions of end users around the world,” according to an e-mailed statement.