ST. JOHN, Jersey, Channel Islands -- (BUSINESS WIRE) --
O3b Networks announced today that it has appointed Steve Collar as Chief Executive Officer. Mr. Collar succeeds Mark Rigolle after the completion of O3b's latest financing round in November 2010. After a handover period, Mr. Collar will formally take up his new position on 7th March 2011.
Mr. Collar joins O3b from SES where he served as SVP of Business and Market Development for SES WORLD SKIES. In this role, he expanded the business' satellite and service portfolio, including the design of new spacecraft and products. He oversaw the company's long-range strategic planning activities and was instrumental in SES' investment in O3b Networks. Mr. Collar originally joined start-up satellite company New Skies Satellites (now SES WORLD SKIES) in 1999 and brings a wealth of experience in implementing and commercialising satellite networks.
Chairman, O3b Networks, John W. Dick said:
"We are delighted that Steve has agreed to join O3b Networks as CEO. With our finances now secure, he will focus on getting O3b up and running ahead of service launch in the first half of 2013. We are extremely grateful to Mark for securing $1.2billion which fully finances the business plan, while creating structure and stability for the company."
CEO, O3b Networks, Steve Collar said:
"I am enormously excited to have joined O3b. Through SES' investment and from my position on the Board I have seen the company grow, achieving milestone after milestone including most recently securing the funding for our satellite constellation. I can't wait to start working with our customers and with the first class team here at O3b and to continue this spectacular journey."
Former CEO, O3b Networks, Mark Rigolle said:
"Having completed the financing of the business, I am pleased to be returning to SES with O3b on a solid footing to move forward. In reaching financial close, securing the customer base, renegotiating major vendor contracts and building the O3b organisation, I believe the company now has the foundation it needs to execute its business plan. Steve is a seasoned satellite industry professional and I have every confidence he will lead O3b in to successful operations."
This press release is for informational purposes only and is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer and that will contain detailed information about the issuer and management, as well as financial statements. The company does not intend to register any part of the present offering in the United States.
About O3b Networks Limited
O3b Networks is building a new fiber-quality, satellite-based, global Internet backbone for Telecommunications Operators (Telcos) and Internet Service Providers (ISPs) in emerging markets. The O3b Networks system will combine global reach and the speed of a fiber-optic network. With investments and operational support from SES, Google, Liberty Global, HSBC Principal Investments, Northbridge Venture Partners, Allen & Company, Development Bank of Southern Africa, Sofina and Satya Capital, the O3b system will provide Telcos and ISPs with a low-cost, high-speed alternative to connect their 3G, WiMAX and fixed-line networks to the rest of the world. This will allow billions of consumers and businesses in more than 150 countries to benefit from high-speed Internet connectivity for educational, medical and commercial applications. O3b Networks' headquarters is in St. John, Jersey, Channel Islands.
CONTACT:
O3b Networks Limited
Luisa Sorrentino, VP, Marketing Communications
luisa.sorrentino@o3bnetworks.com
www.o3bnetworks.com.
or
Brunswick PR
Craig Breheny, Tom Batchelar, Michelangelo Bendandi
+44 (0) 207 404 5959
O3b@brunswickgroup.com