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Hughes to invest $50 million in OneWeb
Posted: Fri, Jul 31, 2020, 6:34 PM ET (2234 GMT)
Hughes Network Systems plans to invest $50 million in the restructured OneWeb. The company announced this week it would be a part of the team led by the British government and Bharti Global to take OneWeb out of Chapter 11 bankruptcy, and will be a distribution partner for OneWeb capacity. Hughes invested $50 million in OneWeb in 2015 as part of a $500 million Series A round, and has won more than $300 million in OneWeb business for gateway antennas and other ground infrastructure that remains unfinished.
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