Facebook buying Titan Aerospace for about $60 million: Source

Titan Aerospace Solara 50
Source: Titan Aerospace

Facebook will buy drone maker Titan Aerospace for about $60 million, a source familiar with the situation told CNBC on Tuesday.

The solar-powered drones can reportedly be airborne for up to five years without having to land.

The deal is part of Facebook's ambition to provide Internet access worldwide. News of a possible deal was first reported by TechCrunch.

Last summer, Mark Zuckerberg announced a project called—a partnership with a number of other tech giants that aims to make Internet available to everyone in the world. The solar-powered drones could help Facebook provide Internet to areas around the world without it, starting with Africa.

Facebook buying Titan Aerospace for $60 million

Titan Aerospace is privately held, and is based in New Mexico. The news comes after the social network acquired messaging app WhatsApp for $19 billion last month.

—Writing by staff. Reporting contributed by Brian Sullvan.