Published On:Monday, 3 November 2014
Facebook to buy Drone Maker
Titan Aerospace is the privately held venture which has the Research & Development facilities in New Mexico. The company was founded in 2012 by the CTO Max Yaney and is currently working on the projects related to Unmanned Aerial Vehicles (UAVs) that do their work near satellites because according to FAA regulations the air space ends at 60,000 feet and above that U.S. doesn’t regulate it.
These drones will fly at the fraction of the cost as they can fly for five years without landing or refuling. They are powered by Solar energy and at night time they use the fully charged batteries.
Initial reports suggest that Apple is in talks with Titan Aerospace for the buyout – the acquisition price would be somewhere around $60 million mark. TechCrunch reports that these drones are being acquired by Facebook in order to provide internet services in the parts of the World where internet is not available – beginning from Africa.
