Google is reportedly planning to invest $30 million in Virgin Galactic for a 1.5 percent stake in Sir Richard Branson's space travel brand as it continues to deepen its connections with aerospace companies.
Google's growing interest in aerospace projects is not a secret anymore. The world's biggest internet search giant already bought two aerospace companies this year and is now investing in the renowned space travel brand, Virgin Galactic. The news, which is still unofficial, surfaced online afterSky News discovered the two companies in deep discussions for several months. According to the report, Google and Virgin Galactic are in an advanced stage of concluding months-long talks about landing in a new deal.
Google will invest $30 million in Sir Richard Branson's space travel brand for a small share in the company, 1.5 percent. Based on this evaluation, Sky News estimates the value of the space agency at about $1.6 billion. It seems a small investment for Google compared to its previous acquisitions of drone maker Titan Aerospace in April and Skybox Imaging earlier this week.
Google announced Skybox acquisition in a blog post Tuesday, for which it agreed to pay $500 million. The web giant will take advantage of Skybox technology and expertise to enhance its Google Maps and potentially bring internet access to remote places around the globe.
In April, the web giant bought drone maker Titan Aerospace with an aim to boost its efforts towards bringing internet access globally. Google reportedly outbid Facebook for the acquisition.
Investment in Virgin Galactic is seen as the latest approach by Google to bolster its dream of extending internet access to billions of people around the world. Branson's space company plans to launch its first flight to space this year, but there are no specific dates. High-profile celebrities including Ashton Kutcher, Katy Perry, Justin Beiber and Branson himself have already paid $200,000 to be a part of the first space adventure when it is ready. The space agency has over $80 million in deposits from nearly 700 individuals, the report added.
