{"id":2909,"date":"2016-12-21T06:43:38","date_gmt":"2016-12-21T06:43:38","guid":{"rendered":"https:\/\/sunkrish.com\/?p=2909"},"modified":"2017-01-13T04:45:02","modified_gmt":"2017-01-13T04:45:02","slug":"softbank-to-invest-1-billion-in-us-venture-oneweb-as-part-of-50-billion-pledge","status":"publish","type":"post","link":"https:\/\/sunkrish.com\/index.php\/2016\/12\/21\/softbank-to-invest-1-billion-in-us-venture-oneweb-as-part-of-50-billion-pledge\/","title":{"rendered":"SoftBank to invest $1 billion in US venture OneWeb as part of $50 billion pledge"},"content":{"rendered":"<p><a href=\"https:\/\/sunkrish.com\/index.php\/2016\/12\/21\/softbank-to-invest-1-billion-in-us-venture-oneweb-as-part-of-50-billion-pledge\/softbank\/\" rel=\"attachment wp-att-2911\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-3177 size-full alignleft\" src=\"https:\/\/sunkrish.com\/wp-content\/uploads\/SoftBank.jpg\" width=\"364\" height=\"139\" srcset=\"https:\/\/sunkrish.com\/wp-content\/uploads\/SoftBank.jpg 364w, https:\/\/sunkrish.com\/wp-content\/uploads\/SoftBank-300x115.jpg 300w\" sizes=\"auto, (max-width: 364px) 100vw, 364px\" \/><\/a><\/p>\n<p>SoftBank Group Corp has agreed to invest $1 billion in US. satellite venture OneWeb Ltd, marking the first tranche of a $50 billion US. investment the Japanese telecoms and technology company&#8217;s founder Masayoshi Son pledged to President-elect Donald Trump.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8220;Earlier this month, I met with President-Elect Trump and shared my commitment to investing and creating jobs in the United States,&#8221; Son said in a joint statement with OneWeb. &#8220;This is the first step in that commitment.&#8221;<\/p>\n<p>The investment is part of a $1.2 billion fundraising by OneWeb, which is seeking to provide affordable internet access to people around the world with satellites.<\/p>\n<p>The remaining $200 million will be funded by its current investors, which include Qualcomm Inc, Airbus Group and Virgin Group. The transaction is expected to close in the first quarter of 2017.<\/p>\n<p>In making his $50 billion pledge in the meeting with Trump, Son said his investment would create 50,000 new jobs, a move the US. President-elect claimed was a direct result of his election win.<\/p>\n<p>The latest investment will come directly from SoftBank, not from a $100 billion tech fund it is launching with Saudi Arabia, even though Son has said that large-scale investments would be made through the tech fund to avoid a further expansion of its debt.<\/p>\n<p>OneWeb, established in 2012 and based in Arlington, Virginia, plans to use the funds to build a plant in Florida to produce low-cost satellites, creating almost 3,000 new jobs in the United States over the next four years.<\/p>\n<p>Son is steering SoftBank, a diverse company that holds stakes in US carrier Sprint, Chinese e-commerce giant Alibaba and other firms, towards cutting-edge tech investments as the telecoms services markets mature. It purchased U.K. chip design firm Arm Holdings for\u00a0$32 billion this year in Japan&#8217;s largest ever overseas deal.<\/p>\n<p>Source: <a href=\"http:\/\/economictimes.indiatimes.com\/articleshow\/56068014.cms\" target=\"_blank\">http:\/\/economictimes.indiatimes.com\/articleshow\/56068014.cms<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SoftBank Group Corp has agreed to invest $1 billion in US. satellite venture OneWeb Ltd, marking the first tranche of a $50 billion US. investment the Japanese telecoms and technology company&#8217;s founder Masayoshi Son pledged to President-elect Donald Trump. &nbsp; &hellip; <a href=\"https:\/\/sunkrish.com\/index.php\/2016\/12\/21\/softbank-to-invest-1-billion-in-us-venture-oneweb-as-part-of-50-billion-pledge\/\">Continued<\/a><\/p>\n","protected":false},"author":1,"featured_media":3177,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,497,5],"tags":[420,901,294,309,906,905,764,683,328,907],"class_list":["post-2909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-corporate-services","category-cross-border-transactions-mas-joint-ventures","category-india-international-corporate-updates","tag-alibaba","tag-donald-trump","tag-investment","tag-japan","tag-masayoshi-son","tag-oneweb","tag-qualcomm","tag-saudi-arabia","tag-soft-bank","tag-virgin-group"],"_links":{"self":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/2909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/comments?post=2909"}],"version-history":[{"count":6,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/2909\/revisions"}],"predecessor-version":[{"id":3179,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/2909\/revisions\/3179"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media\/3177"}],"wp:attachment":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media?parent=2909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/categories?post=2909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/tags?post=2909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}