Google and Virgin Galactic in talks over space tourism business stake

Google is in late stage talks to acquire a stake in Richard Branson's space tourism venture Virgin Galactic, Sky News reports.

 

The deal is likely to see Google pay £17.8m for a 1.5 per cent stake in the holding company and a cash injection of "hundreds of millions of dollars into a joint venture" to help Google bring internet access to billions more people via satellite technology.

 

An unnamed source told Sky News the deal could value Virgin Galactic “at as as much as £1.2bn.”

 

It follows the search giant's acquisition of satellite start up Skybox yesterday for £297m.