Amazon acquires Facebook's satellite Internet team: Report
Tech giant Amazon has acquired a team of more than a dozen wireless Internet experts from Facebook to boost its multibillion-dollar project of launching thousands of satellites and offer broadband service globally, reports The Information.
Tech giant Amazon has acquired a team of more than a dozen wireless Internet experts from Facebook to boost its multibillion-dollar project of launching thousands of satellites and offer broadband service globally, reports The Information.
The report, citing a Facebook spokesperson, said on Wednesday that the social networking giant's employees "moved to Amazon in April to help the company develop its network of low-orbit satellites by the middle of this decade".
WATCH | Click on Zee Business Live TV Streaming Below:
The workers are in the Los Angeles area and included physicists as well as optical, prototyping, mechanical and software engineers who had previously worked on aeronautical systems and wireless networks, according to their LinkedIn pages.
Amazon paid Facebook an undisclosed sum as part of the acquisition, which saw more than a dozen Los Angeles-based employees switch companies in April to work on Project Kuiper, the report said.
According to The Verge, the move brings an end to Facebook's efforts to deliver Internet connectivity to remote areas via its satellites.
When it confirmed the initiative in 2018 the company said that it believed the technology would make it possible "to bring broadband connectivity to rural regions where internet connectivity is lacking or non-existent".
Facebook had previously attempted to use Internet drones to achieve similar ends, before shutting down that project in 2018, the report said.
Meanwhile, Amazon's ambitions to provide Internet via satellite emerged in 2019.
The company has said it expects to invest $10 billion to launch 3,236 satellites into low-earth orbit by 2029 with a similar aim of providing internet to "unserved and underserved communities around the world".
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
SBI 5-Year FD vs MIS: Which can offer higher returns on a Rs 2,00,000 investment over 5 years? See calculations
07:20 PM IST