SoftBank is a Japanese multinational conglomerate that is expanding its reach into the space industry through Non-Terrestrial Network (NTN) solutions. They are working to provide connectivity from space and the stratosphere, offering services like satellite-based internet via partnerships with companies like Eutelsat OneWeb and Starlink. SoftBank is also investing in High Altitude Platform Stations (HAPS) to deliver connectivity directly to smartphones and other devices, aiming to provide advanced and seamless connectivity services and Digital Transformation (DX) solutions in Japan and around the world. Their partners include Skylo Technologies, OneWeb, and HAPSMobile.
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OneWeb's top four shareholders are Softbank (37.41%), Qualcomm (15.93%), Greg Wyler's 1110 Ventures LLC (11.94%), and Airbus (8.5%).
Softbank had invested roughly $2,000,000,000 in OneWeb and decided not to provide additional funding to the company.
Skylo raised $103,000,000 in a Series B round led by SoftBank with participation by the firm’s previous investors.
SoftBank Group International vice president Yoshi Segawa views Skylo’s antenna technology and use of the narrowband internet-of-things protocol as revolutionary and expects to work with the company on developing new use cases.
OneWeb and SoftBank stated that Intelsat received a cease-and-desist letter earlier in 2019 for promoting exclusive distribution rights to OneWeb satellite capacity in four markets where it had none.
OneWeb and SoftBank contend Intelsat’s exclusivity claims stem from an October 2016 agreement under which SoftBank, as part of its $1,000,000,000 investment in OneWeb, acquired the right to purchase all capacity and services that OneWeb would develop in the future.
SoftBank incorporated terminating its OneWeb capacity arrangement into its plan to invest more money into OneWeb in late 2018.
Intelsat had until 2017-01-25 to finalize negotiations under the 2016 agreement, and two extensions occurred without a finalized purchase agreement, according to OneWeb and SoftBank.
OneWeb and SoftBank assert that the dissolution of the SoftBank–OneWeb arrangement closed Intelsat’s window to obtain OneWeb services discussed in 2016.
Intelsat’s direct dialogue with SoftBank stopped suddenly in April 2018 while SoftBank was actively seeking to sell its investment in OneWeb.
Intelsat filed a nine-count lawsuit in the New York Supreme Court on 2019-09-10 alleging that OneWeb and SoftBank breached contracts, committed fraud, and conspired to steal confidential and proprietary information.
In 2016, SoftBank invested nearly $1,000,000,000 in OneWeb and acquired a 40 percent stake in the company.
Discussions among OneWeb, SoftBank, and Intelsat continued beyond 2018-03-31 despite an amended agreement stating that SoftBank agreed to sell OneWeb Services to Intelsat pursuant to a master service agreement to be negotiated on or prior to 2018-03-31.
In 2017, OneWeb, SoftBank, and Intelsat discussed a proposed merger under which SoftBank would invest up to $1,500,000,000 in Intelsat to combine Intelsat and OneWeb into a single satellite provider.
SoftBank has invested more than $1,000,000,000 into OneWeb.
SoftBank supplied $1,000,000,000 of a $1,200,000,000 funding round for OneWeb in 2016.
SoftBank is OneWeb’s largest investor and led the $1,250,000,000 financing round.
In a 2019-03-18 financing round, investors led by SoftBank Group, Grupo Salinas, Qualcomm Technologies, and the government of Rwanda invested $1,250,000,000 in OneWeb.
Previous public disclosures indicated OneWeb had raised $1,700,000,000 in capital, with the majority coming from SoftBank.
OneWeb has raised more than $2,000,000,000 to date from investors including SoftBank, Intelsat, and Coca-Cola.