SoftBank Corp.'s (SFTBF) HAPSMobile and Alphabet's (GOOG, GOOGL) Loon have formed a long-term strategic relationship to advance the use of high altitude vehicles, such as balloons and unmanned aircraft systems, to bring connectivity to more people, places, and things worldwide, SoftBank said in a statement. As part of the new relationship and HAPSMobile's financial and investment strategy, SoftBank said HAPSMobile has made a decision to invest $125M in Loon. Loon has obtained the right to invest the same amount in HAPSMobile in the future. Furthermore, to strengthen the relationship, the companies are actively exploring commercial collaborations to accelerate the deployment of high altitude network connectivity solutions, with a focus on expanding mobile internet penetration, enabling internet of things applications, and assisting in the deployment of 5G. HAPSMobile, SoftBank's subsidiary, is a joint venture with AeroVironment (AVAV).
