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Big Law

Major Satellite Rivals Consider Merging in Light of Elon Musk’s SpaceX Push

Elon Musk and Jeff Bezos are pioneers in the Space sector that has gained a lot of traction over the past year. The Billionaires are going to be launching thousands of satellites into orbits and the thought of this manifesting itself into reality has the other players in the industry looking to partner up with one another for consolidation.

Elon Musk’s SpaceX is working on providing broadband internet service through Starlink by launching its own satellite that will enable worldwide connectivity. Companies such as SES SA, the world’s second-biggest satellite operator in terms of sales view this as a threat to their business. The growth of streaming over fiber optic networks threatens another of their mainstays, Satellite TV.

Takeover, Investments, and Joint Ventures in the space industry have already surpassed 2020’s total amount, with over $3.6 billion spent so far in 2021 according to a report from Bloomberg.

Read the source article at technosports.co.in

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