O3b Networks Ltd. is deploying a new global communications infrastructure to provide high-speed, low-cost Internet connectivity to emerging markets in Africa, Asia, the Middle East and Latin America.
Backed with operational and financial support from Google, Liberty Global and HSBC Principal Investments, the new system will reduce bandwidth costs for Internet service providers and telecommunications operators, enabling cost-effective voice and broadband services at speeds equivalent to fiber technology.

Most developed nations, particularly in the northern hemisphere, are well served by an extensive fiber network. Unfortunately the deployment of an extensive fiber network in many developing markets is not yet commercially viable, let alone practical.
» Read more: O3b: Fiber speed over Satellite