Friday, November 22, 2019
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Facebook looks to buy solar drone company

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 $60 million (Dh220.4 million). Facebook spokesman Tucker Bounds said on 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.