— This is the script of CNBC's news report for China's CCTV on April 15, Tuesday.
Welcome to the CNBC Business Daily.
Google is targeting the skies to get ahead of its rivals.
After robots and "driver-less" cars... the silicon valley giant is now betting on the drones to give it an edge.
It has acquired Titan Aerospace, a startup that is building drones which was also on Facebook's radar.
Bertha Coombs has the details.
Now Google is looking to fly high with drones, reportedly beating out Facebook to acquire Titan Aerospace. Titan's drones are solar powered and reportedly can stay in the air for extended periods. We're talking years. Analysts say Google will likely use the technology for its Google Earth mapping, potentially replacing satellite imagery at a lower cost. The drones may also be used for extending internet coverage. Google has a pilot programme with balloons in New Zealand to provide internet service in the sky. The team from Titan Aerospace will work closely with Project Loon according to the Wall Street Journal. It's been building high altitude balloons capable of beaming internet connectivity now for about 6 months since they've had this pilot programme going. This comes after the firms purchase meantime of the robotics firm's Boston dynamics. Remember you've seen last December, the seventh robotics company now in the stable being run by android creater Andy Rubin. So they kinda have a whole fleet. They've got the airforce, balloons, robotic animals, they have self-driving cars, a very interesting move. No word on how much they paid. According to reports, Facebook had offered up to $60 billion for Titan but instead wound up paying 20 million to acquire Acenta, another aerospace company that specializes in drones that fly for extended periods. So we could at some point see the skies filled with drones by these big tech companies doing something other than defence work.
And that wraps up this edition of the Business Daily.
I'm Sri Jegarajah, reporting from CNBC's Asian headquarters.