After the recent news about Facebook potentially acquiring Titan Aerospace, Google has snatched up the New Mexico-based company instead. While Google did not disclose the financial details of the deal, it is likely to be a rather hefty price tag considering Facebook ended up buying a similar solar-powered drone startup called Ascenta from the United Kingdom for $20 million, according to the Wall Street Journal.
Titan Aerospace has been developing two high-flying solar-powered drones, the Solara 50 and Solara 60, that have the potential to bring Internet and phone services to places around the world that are currently not capable of receiving such service. Additionally, the drones could collect real-time, high definition imagery and provide scientific data. Titan’s drones are designed to be able to soar for as long as five years strictly by use of solar power.
The draw for the two tech giants is the ability to reach a greater number of users and to possibly also sell broadband services to other providers.
Titan had recently announced Vern Raeburn as its new CEO and he is expected to continue his leadership of the company after the deal closes.
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