Facebook to purchase New Mexico-based drone maker Titan Aerospace
Facebook is acquiring drone maker Titan Aerospace for $60 million, according to an unnamed source familiar with the deal. The social media giant is planning to use the drones to fly to Africa and other areas that do not have Internet access, wrote TechCrunch.
Facebook is particularly interested in initially procuring 11,000 units of the Solara 60 drone, the report explained.
Titan's solar-powered drones are capable of flying continuously for up to five years. The Solara 50 and 60 are high-flying drones that have the almost the same functionality as that of an orbital satellite. However, these models have lower cost and have more uses, the report detailed. According to the company's website, the drones can provide high-resolution Earth images, atmospheric-based sensor systems, and voice and data communication services.
Titan is set to raise a second round of funding soon, as announced by the company in October.
Founded by Max Yaney in 2012, Titan Aerospace is currently based in New Mexico, TechCrunch reported.