Jio forays into satellite broadband market

TIL Desk/Business/Mumbai/ Digital services company Jio Platforms on Monday announced a joint venture with Luxembourg-based SES to provide satellite-based broadband services in India, a joint statement said.

The two companies have formed a joint venture, Jio Space Technology Limited, in which Jio Platforms (JPL) and SES will own 51 per cent and 49 per cent equity stake respectively.

“The joint venture will be the vehicle for providing SES’s satellite data and connectivity services in India, except for certain international aeronautical and maritime customers who may be served by SES.

“It will have availability of up to 100 Gbps capacity from SES and will leverage Jio’s premiere position and sales reach in India to unlock this market opportunity,” the statement said.