O3b Networks, a privately held satellite Internet company backed by Google Inc. and others, said Monday it has raised a total of $1.2 billion.
O3b is building global satellite-based Internet technology for telecommunications companies and Internet service providers serving emerging markets. The company said financing comes from a mix of existing and new investors. Among the existing investors are Google, North Bridge Venture Partners and Allen & Co., with SES, Liberty Global and HSBC Principal Investments taking a leading role.
New investors include the Development Bank of Southern Africa, Sofina and Satya Capital.
In all, funding includes a $510 million senior debt facility provided by HSBC, ING, CA-CIB and Dexia; a $115 million senior debt facility and $145 million mezzanine facility from HSBC Principal Investments, Development Bank of Southern Africa, Africa Development Bank, Deutsche Entwicklungs Gesellschaft, Societe de Promotion et de Participation pour la Cooperation Economique, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. , International Finance Corp. and the Emerging Africa Infrastructure Fund, and $410 million in equity financing.
O3b was founded in 2007 and is managed from Englewood, Colo. Its official headquarters are in St. John, Jersey, Channel Islands. The company's name stands for "Other 3 billion," a reference to the number of people who do not have adequate access to broadband Internet access.