Facebook looks to buy solar drone company Titan Aerospace: reports
March 6, 2014, 12:10 am TWN
NEW YORK--Facebook is in talks to buy Titan Aerospace, a maker of solar-powered drones, to step up its efforts to provide Internet access to remote parts of the world, according to reports from technology blog Techcrunch and financial news outlet CNBC.
Both websites cited anonymous sources who are familiar with the deal and put a purchase price at US$60 million.
Facebook spokesman Tucker Bounds said Tuesday that the company does not comment on rumors and speculation. Titan Aerospace representatives did not respond to requests for comment.