O3b is set to bring broadband connectivity to developing areas of the planet.

O3b Networks, the satellite company based in the Channel Islands that was intent on bringing broadband Internet to the developing world, has finally received adequate backing to achieve their goal. O3b, whose main backer is Google, had originally planned to launch 16 satellites by 2010 to provide access to 150 countries in Africa, Asia, Latin America and the Middle East. Unfortunately, due to the failing economy, they we forced to scale back that number and postpone the launch date. O3b has now secured $1.18 billion in funding from such investors as satellite operator SES, HSBC, and the Development Bank of Southern Africa, among others, and the revised plan will see eight satellites launched by 2013 with more expected to follow. O3b refers to “the other three billion” people in the world who currently do not have regular or sustained access to the Internet. These satellites will hopefully go a long way toward decreasing that number.

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