In June, Internet search giant Google decided to purchase online mapping service Waze, but unfortunately the company couldn’t complete the deal. And now Google says that it has paid $966 million to buy Waze.
Waze is a GPS-based navigational app which uses turn-by-turn navigation, as well as user-submitted travel times and route details. It was developed by the Israeli start-up Waze Mobile. However, in June Google decided to acquire Waze. Many people assumed that Google would have to pay around $1 billion or more o buy Waze. But now Google reveals it spent $966 million in Waze acquisition.
There’s no doubt that buying Waze is a strategic acquisition for Google, as it delivers a mapping app which relies on crowdsourcing in order to attain real-time information on traffic.
Now it’s time to see whether Google has any different plan with Waze or not. Keep in touch with us. As soon as we know, we’ll let you know.