For the second time in less than a month, a major Internet-related company has acquired a firm developing a high-altitude, long-endurance (HALE) unmanned aircraft system (UAS), which could serve as a node to provide Internet connectivity from the stratosphere.
UAV start-up Titan Aerospace of Moriarty, N.M., yesterday named former Eclipse Aviation CEO Vern Raburn as its chairman and CEO. Originally a Microsoft executive, Raburn founded Eclipse, manufacturer of the Eclipse 500 very light jet, in 1998. He stepped down from the company in 2008 before it entered bankruptcy, and it later re-emerged from bankruptcy as Eclipse Aerospace.
Dubai-based Titan Aviation (Stand C719), a provider of aircraft management, charter and sales, has been approved by the Cayman Civil Aviation Authority as a Continuous Airworthiness Maintenance Organization (CAMO). The approval allows Titan to perform maintenance on aircraft of Cayman registry.
A British aerial filming business played a small part in last month’s successful landing of a European Space Agency probe on the surface of Saturn’s moon Titan. Helifilms, the firm that delivered the aerial TV pictures at last year’s Athens Olympics (AIN, October 2004, page 113), helped develop the drogue parachutes that lowered the probe safely onto the moon’s surface.
L-3 Communications chairman Frank Lanza arrived at the Paris Air Show mere days after proposing the biggest business deal of his tenure with the company, the $2 billion acquisition of defense contractor Titan Corp.
For Titan Corp., the biggest fine imposed by the U.S. Justice Department since the passage of the Foreign Corrupt Practices Act (FCPA) in 1977 must seem like a pittance compared with the less obvious losses it suffered as a result of its malfeasance.