Google purchases maps app Waze for more than $1 billion

Internet search giant Google had been in talks with the Israeli based maps app Waze. We had reported that Google was contemplating buying the app. The deal has finally materialized.
The announcement of the deal has come from Google itself. It said that there has been a deal of “over $US 1 billion”. However, the exact figure hasn’t been disclosed.
Globes and Calcalist, which is the news outlet from Israel has put the cost of the deal at $US1.3 billion. However, there was no word from Google on this.
There is an obvious race between Facebook and Google in catering to the possible sources of improved lifestyle that is focused on Smartphones as well as tablets. The acquisition of Waze is another attempt by Google to stay ahead in the race.
Brian McClendon, who is the Vice President, Google’s Geo products said that Google has closed the acquisition of Waze that will assist you in outsmarting the traffic. Google’s Geo products include the Street View, Earth as well as Google Maps.
The VP further added that the development team at Waze will stay in Israel itself and will be working from there. It was earlier reported that Waze wanted to continue with their current local staff. And the rules will remain in effect for at least three years.
There are lots of drivers who are obsessed by traffic and therefore trying to find the best possible routes from their workplace to home. Waze will assist Google’s earlier products like Google Map.
Waze has the power to tap the data of regarding the various roads and routes that help drivers create dependable road maps.

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