Enter your email address and start getting breaking law firm and legal news right now!
|Free Market Evaluation - Send us your resume and we will give you free feedback|
Google Buys Drone Manufacturer Titan Aerospace
Apparently in support of its agenda to provide wireless Internet to the masses, Google Inc has purchased solar-powered drone manufacturer Titan Aerospace. Google is really working hard to make this dream come true as evinced by its earlier effort of launching a network of balloons for delivering internet access. That effort, termed Project Loon, and the recent acquisition of Titan prove that increasing internet access is moving away from the hands of the traditional players in that competitive space., and that Internet companies do not wish to remain dependent upon telecom giants in the foreseeable future.
According to media sources, the deal closed on Monday, though key personnel in both companies remain tight-lipped.
After confirming the purchase of Titan Aerospace, Google said in an email statement, “Atmospheric satellites could help bring internet access to millions of people, and help solve other problems, including disaster relief and environmental damage like deforestation.”
While the CEO of Titan Aerospace did not provide any information on the pricing and other specifics of the deal, he told the media that the small 20-person company will continue in New Mexico, while all employees will now become Google employees.
Titan Aerospace is currently developing a type of solar-powered satellites which are slated to commence commercial operations by 2015. The drones would be flying at an altitude of 65,000 ft and will be able to remain in space for up to five years.
Facebook has already announced plans to build solar-powered drones and satellites for beaming Internet access, a few weeks earlier, and now Google’s acquisition of Titan Aerospace confirms that is the way the world is moving. According to media reports, Facebook, too, had tried to acquire Titan Aerospace.
May be the next patent wars would not be so much over smartphone technologies, as over satellite technologies.
If you are looking for IP technology transactions attorney jobs, click here for available openings.Google Buys Drone Manufacturer Titan Aerospace by Scott