Google has agreed to acquire Titan Aerospace, a maker of aerial drones based in Moriarty, N.M., for an undisclosed sum.
Last month, Facebook was negotiating to acquire Titan Aerospace for $60 million, according to TechCrunch. However, shortly thereafter, the social network decided to buy Ascenta, a UK-based drone maker that has been developing solar-powered light aircraft. The Wall Street Journal reports (Caution: Paywall) that Google offered to beat Facebook's proposed price.
"Titan Aerospace and Google share a profound optimism about the potential for technology to improve the world," a Google spokesperson said in an emailed statement. "It's 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. It's why we’re so excited to welcome Titan Aerospace to the Google family."
Titan Aerospace is run by Vern Raburn, who previously served as CEO of Symantec, president of Microsoft's consumer products division, and president of the Paul Allen Group. Most recently, he was CEO of Eclipse Aviation.
For the full story, see EETimes sister site InformationWeek.
— Thomas Claburn has been writing about business and technology since 1996.