Sunday June 09, 2013

Google Is Close to Buying Waze for $1.3 Billion

According to Globes, an Israeli online newspaper, Google has finally come to an agreement with Waze, the social mapping firm based in Israel. The negotiations have been going on for months and rumored to have been between Google, Apple and Facebook in a bidding war to purchase the company. The reported price was set at $1.3 Billion dollars.

You can also imagine Waze’s ‘socialified’ maps fitting well with Google Maps and Google+, while it would also be a defensive move to prevent the technology being acquired by Apple or other rivals.