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SoftBank's HAPSMobile to invest USD 125 million in Alphabet's Loon
2019-04-25 07:12:00| Telecompaper Headlines
(Telecompaper) SoftBank's HAPSMobile and Alphabet's Loon have teamed up to advance the use of high altitude vehicles, such as balloons and unmanned aircraft systems (UAS), to bring connectivity to more people, places, and things worldwide. HAPSMobile will invest USD 125 million in Loon, and Loon has obtained the right to invest the same amount in HAPSMobile in the future. The companies are also exploring commercial collaborations to accelerate the deployment of high altitude network connectivity services, with a focus on expanding mobile internet penetration, enabling IoT applications, and assisting in the deployment of 5G.
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Category:Telecommunications