Google to buy Titan Aerospace

MORIARTY, N.M. (KRQE) – Google has closed a deal to buy Titan Aerospace according to the New Mexico drone-maker’s website.

Last month, Facebook originally showed interest in the drone-making company, and planned to spend $60 million on the company. The social media giant ended up buying a UK-based drone maker for $20 million.

KRQE News 13 reported last week that Google also showed interest.

On Titan Aerospace’s website Monday, officials posted the following statement:

“At Titan Aerospace, we’re passionate believers in the potential for technology (and in particular, atmospheric satellites) to improve people’s lives. It’s still early days for the technology we’re developing, and there are a lot of ways that we think we could help people, whether it’s providing internet connections in remote areas or helping monitor environmental damage like oil spills and deforestation. That’s why we couldn’t be more excited to learn from and work with our new colleagues as we continue our research, testing and design work as part of the Google family.

To everyone here in New Mexico and around the world who has supported us so far — thank you. We couldn’t have made it this far without your support.”

Leaders in Moriarty are celebrating the news.

“This is huge for our community between jobs, the economic impact they will be providing out here. The growth of our airport, the growth of our community…It’s really big for our community,” Mayor Ted Hart said.

Titan employs about 30 people in Moriarty.

A factory planned for an area next to the airport would mean a huge increase in hiring.

“I think there will be a lot more high end jobs as far as research and development and then once the manufacturing operation gets on board, once they get the facility built, we’re probably talking 100-200 jobs,” Myra Pancrazio said.

Google says the drones could also be used in disaster relief, and to assess environmental damage.

Their rival Facebook was in talks to buy titan earlier this year, but later bought a solar drone company based in Britain.

CEO Vern Raburn told Albuquerque Business First he will continue running Titan.

 

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