O3b Networks, the developer of a new fiber-quality, satellite-based, global Internet backbone for telecommunications operators and Internet Service Providers announced today it will be closing out the third quarter of 2009 with approximately US$600 million in contracts for services and a customer base for each product in its portfolio.
O3b Networks, funded by Google Inc., Liberty Global, Inc. and HSBC Principal Investments, is making rapid strides in its deployment of the world’s first ultra-low-latency, Medium Earth Orbit (MEO), Ka-band, fiber-speed satellite network. The network is designed to improve Internet access for millions of consumers and businesses in emerging and developed markets, as well as selected vertical markets. Satellite delivery is scheduled for early 2011.
“We are really excited about our progress this quarter and more importantly, the response of customers to our product portfolio. We are proud to report that we have presold every application we developed for the initial launch of our satellites,” said John Finney, Executive Vice President of Sales and Marketing. “We have listened carefully to our customers ensuring that our services are available to meet advanced network requirements in time for O3b Service activation. This has given customers the assurance that they have a solution that is right for the growth they are anticipating. Our attractive pricing and flexible terms has also made it easy for customers to make purchasing decisions to meet their long term bandwidth requirements.”