• Google Confirms Acquisition of Waze

    After having reportedly been pursued by the likes of Apple and Facebook, Waze finally found a suitor with whom it could do business.

    On Tuesday, Google confirmed its acquisition of Waze, the cross-platform, crowd-sourced traffic and navigation service.

    Google didn't say much of the purchase, save for its plans to integrate the service with its own Maps offering.

    No financial terms were touted, although it's believed the acquisition cost Google at least $1 billion.

    “We’re excited about the prospect of enhancing Google Maps with some of the traffic update features provided by Waze and enhancing Waze with Google’s search capabilities,” Google vice president Brian McClendon stated today on the Official Google Blog.

    The Waze product development team will remain in Israel and operate separately for now, today’s announcement revealed.

    “The Waze community and its dedicated team have created a great source of timely road corrections and updates,” McClendon added. “We welcome them to Google and look forward to working with them in our ongoing effort to make a comprehensive, accurate and useful map of the world.”

    Source: Google
    This article was originally published in forum thread: Google Confirms Acquisition of Waze started by Michael Essany View original post
    Comments 5 Comments
    1. eculewatt's Avatar
      eculewatt -
      coincidentally today waze absolutely sucked for my commute to work. barely gave me directions, gave me no reroutes when i took a different route and kept trying to reconnect the whole time.
    1. bmwraw8482's Avatar
      bmwraw8482 -
      Dunno how apple could have let that happen?! Good for google maps, bad for apple
    1. iYeow's Avatar
      iYeow -
      Good for google, wave is one of my favourite app.
    1. dstorrents's Avatar
      dstorrents -
      A critical term of the contract (and the main reason why Facebook couldn't close the deal) is that Google is allowing the Waze team to stay in Israel . . . . wooohoo!!!!!. Waze is a total Apple-like success story. Couple guys got together to create something cool and a few years later they sell it for a BILLION dollars. How cool
    1. GenesisDH's Avatar
      GenesisDH -
      Considering the Waze team had an agreement regarding maps data with Apple...
      This may make some big changes come Apple's way and they may not like it.
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