hi-wazertxzg7e-8colGoogle Inc. confirmed Tuesday that it has closed the deal to purchase Waze, the Israeli user-sourced traffic and navigation app, ending months of speculation about rival bids for the start-up from Google, Apple and Facebook.
Financial details were not released, but the New York Times reported that a source familiar with the deal said Google paid $1.03 billion US for the app.

If that purchase price is accurate, it would make Waze the fourth most expensive acquisition among the more than 240 deals that Google has completed in its nearly 15-year history, the Associated Press reported. The only bigger purchases are Motorola Mobility Holdings for $12.4 billion last year, DoubleClick for $3.2 billion in 2008 and YouTube for $1.76 billion in 2006.
"The Waze product development team will remain in Israel and operate separately for now," Google said in a blog post Tuesday. "We’re excited about the prospect of enhancing Google Maps with some of the traffic update features provided by Waze and enhancing Waze with Googles search capabilities."

via Google buys Waze mapping app - Technology & Science - CBC News..

2013-06-12 10:41:16
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