Looks like Google is about to make another big move to get its satellite internet plan one step closer to happening. The internet and tech giant is in talks with Virgin Galactic for a multi-million dollar joint venture that includes an equity stake in the business according the Sky News.
Details of the deal include a $30 million investment from Google in Virgin Galactic for a 1.5% stake in the company. That puts Virgin Galactic at a valuation of around $1.6 billion.
This is just the latest aerospace investment by Google. Earlier this week, the tech giant bought Skybox Imaging for $500 million. Skybox specializes in high-quality satellite images and their tech will help improve Google Maps. Skybox also builds its own satellites, which could be handy if Google moves forward with plans to use lasers on satellites to beam internet to areas of the world that don’t currently have it.
Google also purchased drone maker Titan Aerospace back in April. This acquisition will could also expand Google’s internet reach across the globe.
At the end of the day, it’s all about more people using more Google services.
As for Virgin Galactic, they are getting set to have its inaugural space flights later this year. You’ll need to open your wallet big time if your interested. A seat on board will set you back $250,000. Plenty of rich folks have already signed up though as Galactic has accepted more than $80 million deposits from more than 700 people.