O3b

Bridging the digital divide

Google and HSBC are financing a constellation of 16 satellites that will bring high-speed, low-cost internet connectivity to emerging nations located near the equator.

Announced Tuesday, O3b (abbreviation for "the other 3 billion") Networks said the satellites are planned to orbit near the equator to deliver internet connectivity to emerging markets in Asia, Africa, Latin America, and the Middle East. The service is planned for activation by the end of 2010.

Company's founder, Greg Wyler says "Only when emerging markets achieve affordable and ubiquitous access to the rest of the world will we observe locally generated content, widespread e-learning, telemedicine and (much) more"

More info available here and here.