Google has purchased drone company Titan Aerospace, the same company Facebook was recently said to be interested in acquiring. The move is part of Google's push to spread Internet access around the world, especially to underdeveloped regions. Although the two companies will still operate individually, Titan will team up with Google on its Maps service as well as Project Loon, which aims to spread Internet service by using giant, high-altitude balloons. Terms of the deal were not disclosed.

More from Emerging Markets

Wall Street Looks To Extends Gains After Goldman Earnings Beat, China Data

Wall Street Looks To Extends Gains After Goldman Earnings Beat, China Data

China's President Xi Jinping Tells Boao Forum He Supports Opening Markets

China's President Xi Jinping Tells Boao Forum He Supports Opening Markets

U.S. Stock Futures Steady; Asia Stocks Mostly Lower

U.S. Stock Futures Steady; Asia Stocks Mostly Lower

Jim Cramer: There Are Plenty of Shorts in Constellation Brands

Jim Cramer: There Are Plenty of Shorts in Constellation Brands

Renault Shares Hit 10-Year High on Nissan Merger Report

Renault Shares Hit 10-Year High on Nissan Merger Report