NEW YORK (AP) — Facebook is in talks to buy Titan Aerospace
to step up its efforts to provide Internet access to remote parts of the
world, according to reports in the technology blog Techcrunch and
financial news outlet CNBC.
Both websites cited anonymous sources who were familiar with the deal and put a purchase price at $60
million.
Facebook
spokesman Tucker Bounds said Tuesday that the company does not comment
on rumors and speculation. Titan Aerospace representatives did not
respond to requests for comment.
If Facebook does buy Titan
Aerospace, the purchase could fit with the goals of CEO Mark
Zuckerberg’s Internet.org project. The Facebook-led partnership aims to
connect the more than 5 billion of the world’s 7 billion people who are
not already online.
Google has a similar project called Project Loon.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
NEW YORK (AP) — Facebook is in talks to buy Titan Aerospace
to step up its efforts to provide Internet access to remote parts of the
world, according to reports in the technology blog Techcrunch and
financial news outlet CNBC.
Both websites cited anonymous sources who were familiar with the deal and put a purchase price at $60
million.
Facebook
spokesman Tucker Bounds said Tuesday that the company does not comment
on rumors and speculation. Titan Aerospace representatives did not
respond to requests for comment.
If Facebook does buy Titan
Aerospace, the purchase could fit with the goals of CEO Mark
Zuckerberg’s Internet.org project. The Facebook-led partnership aims to
connect the more than 5 billion of the world’s 7 billion people who are
not already online.
Google has a similar project called Project Loon.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.