Google to acquire Waze for $1.3B ?
The search giant is very close to finish a deal with Waze – the Israel Based company specialized in mapping and navigation app services, a new report reveals. Haaretz, a close to Waze source has revealed that the price could be around $1.3 billion. With this acquisition, Google could help itself to improve its mapping and navigation services and also to prevent other companies like Apple and Facebook to buy Waze. In a previous report was said that Facebook was also in talks for a possible deal with Waze for 1 billion USD, but apparently both companies failed to reach an agreement. One of the possible conflict zones was that Facebook wanted to move the company in the US. Moreover, Facebook wanted to pay half of the price cash and half in stock, while Waze wanted the full price in cash.
Asking about more details Google refused to comment, but apparently Google has agreed to pay Waze’s purchase price in cash, the source reveals. By this move, Google will expand its social elements in the mapping services. Currently, Waze has around 50 million active users, which enjoys real-time traffic updates as well as quick rerouting – the system determines if there are better route options available, based on the road traffic info. Waze is one of the most promising companies based in Israel and a future purchase by Facebook, Google, or other major company is a matter of time, the specialists adds. With a future acquisition, the buyer would enhance its location and mapping service offering.
Waze is founded in 2007 and it is well-known with its mapping, direction and routing application. Available in 193 countries, the service use data provided by the other drivers. Waze supports iOS, Android, and Windows Mobile OS. Currently, there is no version for Windows Phone 8 OS.
Source: Jpost
