OneWeb Announces Funding for New Global Communications System
June 26, 2015
San Francisco, CA - Paul Hastings LLP, a leading global law firm, announced today that the firm is representing WorldVu Satellites Limited, also known as OneWeb, in a private placement in excess of $500 million to strategic partners including Qualcomm, the Virgin Group, Bharti, Airbus Group, Hughes Network Systems, Intelsat, Totalplay and The Coca-Cola Company, to fund the development of a satellite constellation to provide global access to the Internet.
OneWeb is building the world’s largest satellite constellation. The OneWeb constellation will initially consist of more than 600 Low Earth Orbit satellites that will provide connectivity to billions of people around the world. With more than 10 terabits per second of new capacity, it will transparently extend the networks of mobile operators and ISP’s to serve new coverage areas, bringing voice and data access to consumers, businesses, schools, healthcare institutions and other end users.
The OneWeb legal and regulatory team was led by Ross D. Vincenti, OneWeb’s general counsel. Corporate partner
Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.