Google To Acquire Solar-powered Drone-maker Titan Aerospace

(RTTNews) - Search engine giant Google, Inc. (GOOG) has Monday acquired solar powered drone maker Titan Aerospace, a startup that makes high-altitude unmanned aircraft. Titan aerospace confirmed the deal on its website, but the terms and financial details of the deal were not disclosed.

Google is said to be looking to use thousands of the unmanned drones to provide Internet access to remote developing regions of the world such as Africa. Google had earlier floated plans to use weather balloons to provide Wi-Fi to remote parts of the world.

The drones will also help Google in updating its Maps application by providing high-quality images in real-time.

Google is reportedly interested in using Titan's Solara 60, a featherweight aircraft built with composite materials, that can maintain an altitude of 65,000 feet. These drone can reportedly stay afloat for a period of up to five years without refueling and landing with the help of solar cells on the unmanned aircraft that can carry up to 250 pounds of gear.

Moriarty, New Mexico-based Titan Aerospace provides persistent solar atmospheric satellite platforms to global customers for easy access to real-time high-resolution images of the earth, voice and data services, and other atmospheric-based sensor systems.

Founded in 2012, Titan is backed by leading entrepreneurs and comprised of Internet and aerospace professionals. It is headed up by former Symantec CEO Vern Raburn.

Reports in early-March had suggested that social-networking giant Facebook, Inc. (FB) was in talks to acquire Titan for about $60 million. However, Facebook went on to acquire U.K.-based solar-powered drone maker Ascenta for about $20 million in late March with the idea of delivering Internet via drones.

GOOG closed Monday's regular trading session at $532.52, up $1.92 or 0.36% on a volume of 2.57 million shares.