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Google to buy Waze for around USD 1.1 billion - report

2013-06-10 08:57:00| Telecompaper Headlines

(Telecompaper) Google has agreed to acquire map software maker Waze for around USD 1.1 billion, a person with knowledge of the deal told Bloomberg. Waze's mobile app uses input from over 40 million users to improve directions and display details of traffic conditions and road hazards. This social feature would allow Google to keep its mobile navigation system lead over competitors like Apple and Facebook. Waze generates revenue through location-based advertising. Its app supports iOS and Android. Neither company would comment on the matter. Israeli newspaper Globes first reported the deal, pricing it at USD 1.3 billion.

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Category:Telecommunications

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