Google Market News Update : Epic Research Singapore

Google Inc. plans to spend more than $1 billion on a fleet of satellites to extend Internet access to unwired regions of the globe, people familiar with the project said, hoping to overcome the financial and technical problems that thwarted previous efforts.

The project will start with 180 small, high-capacity satellites orbiting the earth at lower altitudes than traditional satellites, and then could expand.

Google’s GOOG +0.38%   satellite venture is led by Greg Wyler, founder of satellite-communications startup O3b Networks Ltd., who recently joined Google with O3b’s former chief technology officer.

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