GOOG: Buzz Builds Around Google, Virgin Galactic Space Talks

Google may be looking to invest in the company, report says

   

GOOG: Buzz Builds Around Google, Virgin Galactic Space Talks

Titan of tech Google (GOOG) and Virgin Galactic are keeping mum on rumors that the companies are partnering on a deal to advance satellite launch technology.

GooglePromo GOOG: Buzz Builds Around Google, Virgin Galactic Space TalksBritain’s Sky News is reporting — via unnamed sources – that Google is considering a partnership to make use of Virgin Galactic’s rocket technology, and investing some $30 million for a small stake in the company.

Google has so far refused to comment on the report.

Virgin Galactic had pretty much the same to say as well.

“We’re aware of the news stories about Google,” said a Virgin Galactic spokesperson. “It’s our policy not to discuss speculation, so we have no comment or details to share.”

Via NBC:

Google has made some high-profile moves in the aerospace industry lately, including its$500 million acquisition of Skybox Imaging, a satellite manufacturer; its purchase of Titan Aerospace, which makes solar-powered drones; and a reported plan to set up a multibillion-dollar satellite venture that may be called WorldVu or L5. The company is also an investor in O3B Networks, which aims to extend broadband Internet services to underserved regions of the world via satellite.

Virgin, meanwhile, has been developing satellite-launching system LauncherOne. Skybox Imaging, the tech company that Google is buying, is a LauncherOne customer.

GOOG stock is down .75% in early trading.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/06/goog-google-virgin-galactic-space-talks/.

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