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(Alliance News) - Vodafone Group PLC on Tuesday said it has agreed to become one of the lead investors in a business which aims to create the first space-based mobile broadband network.
Alongside Japanese commerce company Rakuten Inc, the FTSE 100 telecommunications firm will invest in Avellan Space Technology & Science's SpaceMobile venture. The investment from Vodafone and Rakuten means that Avellan has now secured USD128 million for the project.
SpaceMobile aims to "extend mobile coverage to more people and devices across the planet, using the first mobile broadband network that will be broadcast from space", Vodafone explained.
Vodafone added: "AST & Science will initially offer 4G services to partner networks globally, with 5G delivered in the future. The SpaceMobile network will enable seamless roaming to and from terrestrial cellular networks at comparable data rates without any need for specialised satellite hardware.
"In addition to its investment in AST & Science, Vodafone has agreed to a strategic partnership and will contribute technical, operational and regulatory expertise in support of the global deployment of SpaceMobile."
Chief Executive Nick Read added: "Our investment is part of our broader strategy to become a leading mobile network operator in Japan and a global solution provider to markets around the world. Rakuten's strategic investment with AST & Science has the potential to support our efforts to connect users across Japan through mobile innovation, expanding national coverage from metropolitan to remote areas and bolstering the network in times of natural disaster."
Vodafone shares 1.9% higher at 135.92 pence each in London on Tuesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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