Bpifrance and Fonds Stratégique de Participations-backed Eutelsat completed the merger with OneWeb in a $3.4bn deal.

Bpifrance and Fonds Stratégique de Participations-becked Eutelsat, a satellite operator, completed the merger with OneWeb, a broadband connectivity provider, in a $3.4bn deal. “This is an 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," Dominique D’Hinnin, Eutelsat Chairman.