Facebook may try to buy aerospace and drone manufacturer
Anonymous sources who were familiar with the deal and put a purchase price at $60 million
NEW YORK—Facebook is in talks to buy Titan Aerospace to step up its efforts to provide Internet access to remote parts of the world, according to reports in the technology blog Techcrunch and financial news outlet CNBC.
Both websites cited anonymous sources who were familiar with the deal and put a purchase price at $60 million.
Facebook spokesman Tucker Bounds said Tuesday that the company does not comment on rumours and speculation. Titan Aerospace representatives did not respond to requests for comment.
If Facebook does buy Titan Aerospace, the purchase could fit with the goals of CEO Mark Zuckerberg’s Internet.org project. The Facebook-led partnership aims to connect the more than 5 billion of the world’s 7 billion people who are not already online.
Google has a similar project called Project Loon.