Google acquires Titan Aerospace (drones)
Companies in Relationship
, Titan Aerospace
Initial Announcement Date:
Consideration: $75 million (estimate); Source: New York Times
Google purchases Titan Aerospace, which is developing jet-sized drones designed to fly non-stop for years. Google reported that Titan's technology might be deployed to capture geo-images and provide Internet access to remote areas.
Titan has about 20 employees (including CEO Vern Raburn) who plan to remain in New Mexico. Titan will work with Google's Loon, a project developing large, high-altitude balloons that provide Interent signals to remote locations. Titan also may work with Makani, another Google acquisition building an airborne wind turbine for electricity generation.
In a posting confirming the acquisition, Google stated: "Titan Aerospace and Google share a profound optimism about the potential for technology to improve the world. Itís still early days, but atmospheric satellites could help bring internet access to millions of people, and help solve other problems, including disaster relief and environmental damage like deforestation. Itís why weíre so excited to welcome Titan Aerospace to the Google family."
Facebook had explored acquiring Titan earlier in 2014, but Google offered to top any Facebook offer, according to the Wall Street Journal. (Facebook had reported offered $60 million for Titan.) Facebook eventually agreed to acquire Ascenta for $20 million. Ascenta is also building solar-powered drones.
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