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, IgbereTV reports
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
