GEO satellite operator Eutelsat has completed its all-share combination with low-Earth orbit (LEO) satellite company OneWeb, resulting in the forming of Eutelsat Group.
According to Eutelsat which is headquartered in Paris, OneWeb will be a subsidiary operating commercially as Eutelsat OneWeb based in London.
The combined GEO and LEO constellations will offer customers global, fully integrated connectivity services and Eutelsat says the combination confirms the company as a pioneer in the space industry and a leader in space technology innovation.
Dominique D’Hinnin, Chairman of the Board of Directors, said: “This is a historic moment for the satellite industry. We are bringing together two businesses that are at the forefront of delivering integrated, seamless and reliable connectivity to customers worldwide.
“We will be moving fast to accelerate the growth of the combined business. With the support of strategic shareholders of both entities, we are confident of maximising financial performance and operational excellence, while capitalising on the high-return investment of next generation satellites.
“I would like to pay tribute to all colleagues who have ensured we can successfully deliver this combination. We are ready to provide connectivity and services that will support economic and social development globally as a trusted partner for multi-orbit connectivity.”
