It’s official – Google has just announced the closing of an acquisition deal with Waze. While the terms of the deal weren’t made public, it’s rumored that Google paid around $1.3 billion for the acquisition.
Google considers their maps one of it’s most important products, which shows through several recent Maps acquisitions such as Zagat and now Waze. Maps closes the loop on Google’s overall search strategy – marrying desktop with mobile / local search services.
Waze’s unique services that leverage a crowd-sourced database of information from millions of users on traffic jams, accidents, attractions, lodging, food, and more. Updates are given to users in real-time as they are reported by others and it’s an interesting experience very different from most other map apps in the market today.
Read more from official release here: via Google
