Facebook in talks to buy UAV maker Titan Aerospace
March 5, 2014, Moriarty, N.M. - Facebook is reportedly in discussions to acquire drone manufacturing firm Titan Aerospace for $60 million, in order to provide internet access to consumers in developing countries.
Technology blog TechCrunch first reported the deal, citing an undisclosed source.
Titan's solar-powered drones can fly at altitudes of 65,000 ft. and remain airborne for five years.
"Titan's solar-powered drones can fly at altitudes of 65,000 ft. and remain airborne for five years."
The social networking site aims to build 11,000 of Titan's 'Solara 60' model drones to offer beam internet connection in those parts of the world currently with irregular or no coverage, reported TechCrunch.
The Solara 50 and 60 models can be launched during night with the help of power from internal battery packs, and can store enough energy in the mornings to ascend to 20 km above sea level.
Such capabilities make these drones suitable for regional internet systems.
This proposed move would help Facebook's Internet.org project, which is a collaboration between a number of other large tech firms that seeks to connect several parts of the globe that do not have internet access, including places in Africa and Asia.
New Mexico-based Titan Aerospace was established in 2012, and has research and development sites in the state.
The Titan Aerospace drones enable a platform to expand the mobile broadband, and assist Facebook connecting more people and extending its customer base worldwide.