Internet giant, Google, has unveiled its secret high-speed communications network firm, Aalyria, in a bid to reduce its expenses and source for third-party funds from private investors.
Google unveiled the firm on Monday, and it is expected to enable network usage in areas where supporting infrastructure doesn’t exist, covering land, sea and space.
Describing its purpose of operation in a statement, Aalyria said, it will manage, “hyper fast, ultra-secure, and highly complex communications networks that span land, sea, air, near space, and deep space.”
The Alphabet subsidiary has been tight-lipped on information regarding Aalyria, and has been building the communications network inhouse, until recently, when the company began spinning off some of its innovations to attract equity funding, and cut down on cash expended on several projects.
It was gathered that the spin off had been encouraged by sluggish ad spending, and Google’s parent company is sourcing funds for other projects like self-driving automaker, Waymo, and Verily, which is a life sciences company.
Meanwhile, other projects; Makani, a power-generating kite builder, and Loon, an internet-beaming balloon business, have been shut down by Alphabet.
Google’s decision to source for capital from private investors would reduce its ownership stake in Aalyria, but the company didn’t reveal the stake it is willing to let go in exchange for funds.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: How N70m road construction created more hardship for Sokoto residents
“To address recurrent accidents on Gagi to Gidan Dilo road and Fakon Idi roads, in Sokoto State, the Federal Government,...
INVESTIGATION: Inside Kwara school where students are used as labour on teachers’ private farms
In this report, SHEREEFDEEN AHMAD uncovered how young students in Kwara State, Nigeria, are being used for labour work on...
INVESTIGATION: How Kano SUBEB awarded contracts to inactive contractors, non-existent schools
In an effort to address issues hindering quality education, the Kano State Government in 2020 awarded N88,406,667.10 for the construction...
SPECIAL REPORT: Hike in gas price forces more Nigerians to use coal, sawdust, as smoke kills 93,300 yearly
In the build-up to the 27th Conference of Party (COP 27), Nigeria recently launched its energy transition plan (ETP) as one of...
INVESTIGATION: How roadside foods endanger consumers’ life with trans fat in northern Nigeria
With an estimated 854,000 deaths in Nigeria, and 3,229 attributed to trans fatty acids (TFA) -related cardiovascular deaths, ADESOLA IKULAJOLU visited Nigeria’s...