Now it is official that Google has acquired Waze. Rumored price of $1.3 billion but Techcrunch confirms that Google paid $1.1 billion for the deal. Google will use Waze technology to boost its map. Waze has 40 million users who help in making Waze data more accurate.
“To help you outsmart traffic, today we’re excited to announce we’ve closed the acquisition of Waze. This fast-growing community of traffic-obsessed drivers is working together to find the best routes from home to work, every day,” Google’s VP for Geo Brian McClendon noted in a blog post.
As per last reports, Waze team will remain in Israel and operate separately for now. This was the main reason why Facebook couldn’t get the deal.
“The Waze product development team will remain in Israel and operate separately for now. 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,” He added.
Waze is available for both iOS and Android platforms and alters users to traffic slowdown and suggest alternate ways to reach theIR destination.
Facebook was also interested in Waze and was ready to pay $1 billion but talks couldn’t reach to destination and Google made its exciting entry to win the deal
