US: Snap acquires a drone manufacturing firm

Snap, the parent company of Snapchat, has hardware ambitions. That is something which is known to all. The company’s first hardware product, Spectacles, may not have performed as well as it might have hoped but that doesn’t mean Snap is going to give up on these ambitions. If a new report is believed, Snap may have acquired a drone maker, and if that’s true it gives us a hint of what to expect from the company.

Buzzfeed News reports that Snap has acquired Ctrl Me Robotics. It’s a small drone maker that’s based in Los Angeles, California. The report even says that this was a cheap deal for Snap as the company’s purchase price was under $1 million.

It has been rumored for quite some time now that Snap is interested in drones and that its next hardware product might be a drone of some sort. This acquisition goes to show that Snap may not have just a passing interest in drones and that this is something it might be thinking about seriously.

It’s claimed that Ctrl Me Robotics was actually in the process of winding down when it approached Snap for a possible deal. Sources familiar with the deal tell Buzzfeed News that the transaction amount was less than $1 million.

Full Content: Buzzfeed

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