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Google close to closing $1.3 billion acquisition for Waze


Google could be on the final stages on the move to acquire Waze, the social traffic and navigation app. Globes, a native Israeli newspaper, has reported the deal could be in its finalisation stages, with Google ready to announce within weeks.

The price has been bumped up, from $1 billion Facebook apparently offered to $1.3 billion. The reason behind Facebook’s departure from the bidding war was due to most of Waze’s staff living in Israel – Facebook wanted them to move to the US, while Google is okay with them staying at home.

Google is obviously gunning for Waze’s incredible social traffic service and navigation tools, to add to their already impressive Maps app. Google will allow Waze to continue running as normal and will sample and share technologies with the group.

This would be yet another big acquisition by Google and their third acquisition over $1 billion, behind YouTube, DoubleClick and Motorola Mobility. It would also be another $1 billion acquisition for a young Internet startup, following Instagram and Tumblr.

Source: The Next Web

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