Report: Facebook to acquire Titan Aerospace for $60M

S50_DesertBrown_1366

According to CNBC, Facebook is in the process of acquiring a drone maker.

Facebook is reportedly buying Titan Aerospace, which builds solar atmospheric satellite platforms, for $60 million. This comes just a couple weeks after Facebook purchased mobile SMS-replacement app WhatsApp for $19 billion.

Facebook has not yet responded to an email asking for confirmation.

News was first reported by TechCrunch, but CNBC’s sources said Tuesday morning that the deal has been finalized. The airplane satellite machines that Titan makes can stay aloft for 5 years without having to land.

According to reports, this acquisition will help Facebook’s efforts in step with Internet.org to provide internet access to more people internationally. The drones would ideally be able to provide Wi-Fi or broadband access to areas of the world that are underserved.

Image courtesy of Titan Aerospace.

Social Media 101

Mediabistro Course

Social Media 101

Get hands-on social media training for beginners! Starting November 10, hear from our expert speakers on the  best practices for getting set up on the major social media platforms, how to create meaningful content, and engage with your audience across sites. Register now!

 

Leave a Reply

Get the latest news in your inbox
interested in advertising with inside facebook?

Social Media Jobs
of the Day

Social Media Account Manager for Beauty PR Agency

Creative Media Marketing
New York, NY

Director of Digital Strategy

Beauty Public Relations Agency
New York, NY

Social Media Associate

Petrol Advertising
Burbank, CA

Social Media Manager

Aeon Media
San Francisco, CA

Account Executive- Healthcare PR and Social Media

Berry & Company Public Relations
New York, NY

Featured Company

Join leading companies like this one and recruit from the nation's top media job seekers on the Mediabistro Job Board. Every job post comes with our satisfaction guarantee. Learn More
 

Our Sponsors

Mediabistro A division of Prometheus Global Media home | site map | advertising/sponsorships | careers | contact us | help courses | browse jobs | freelancers | content | member benefits | reprints & permissions terms of use | privacy policy Copyright © 2014 Mediabistro Inc. call (212) 389-2000 or email us