'Uthelsat·OneWeb' Merger... Space Internet Giant Rivaling SpaceX Emerges

A SpaceX Falcon 9 rocket that took off from Launch Pad 39A at Kennedy Space Center in Cape Canaveral, Florida, USA, on April 27 (local time), captured from nearby Merritt Island as it arcs toward space. [Image source=Yonhap News]

French satellite communications giant Eutelsat and British satellite internet company OneWeb, two of the world's top three satellite communications firms, are merging.

On the 26th (local time), according to AFP and Bloomberg, Eutelsat and OneWeb signed a memorandum of understanding (MOU) for the merger.

Through this merger, the two companies are expected to gain a dominant position in the market as well as generate sales of 1.5 billion euros (approximately 2.061 trillion KRW).

Eutelsat will acquire all shares of OneWeb, which is valued at 3.4 billion dollars (approximately 4.4 trillion KRW), and the shareholders of both companies will each hold 50% of the new entity.

The two companies aim to become a space internet provider rivaling SpaceX's Starlink and Amazon's Project Kuiper through the merger.

Specializing in geostationary orbit (GEO) satellites, Eutelsat operates 35 satellites providing internet services, while OneWeb operates 428 of the 648 low Earth orbit (LEO) satellites orbiting the Earth.

SpaceX and Amazon are launching numerous LEO satellites into space to build a global high-speed internet network based on low Earth orbit satellite networks.

The French and British governments each hold stakes in Eutelsat and OneWeb, respectively.

This content was produced with the assistance of AI translation services.