O3b Seals $1.2 billion For Satellite Internet

O3b Networks has raised $1.2 billion in debt and equity financing to create a constellation of satellites to provide internet service to the developing world. Shareholders include Google, North Bridge Venture Partners, Allen & Company, SES, Liberty Global and HSBC Principal Investments. Other shareholders include the Development Bank of Southern Africa, Sofina and Satya Capital. Debt was provided by several lenders, including HSBC, ING and Dexia. O3b Networks, whose name stands for “other three billion” – a reference to the number of people in the world without regular Internet access – is based in the Channel Islands.

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