Facebook in talks to acquire drone company for $60 mln -reports
SAN FRANCISCO, March 4
SAN FRANCISCO, March 4 (Reuters) - Facebook Inc is in talks to buy drone maker Titan Aerospace for $60 million, according to media reports.
The high-flying drones would give Facebook, the world's No.1 Internet social network, the ability to beam wireless Internet access to consumers in undeveloped parts of the world, according to the technology blog TechCrunch, which first reported the deal late on Monday citing an anonymous source.
The effort would help advance Facebook's Internet.org effort, which aims to connect billions of people who do not currently have Internet access.
Facebook declined to comment. Titan Aerospace did not immediately respond to requests for comment.
Titan is developing a variety of solar-powered "atmospheric satellites" according to the company's website, with initial commercial operations slated for 2015.