Google buys Waze navigation app
Google has acquired Waze, the community-based traffic navigation app, for a rumoured $1bn to $1.3bn.
Waze: Google buys start-up
Facebook was reportedly in discussions to buy the service for $1bn, in May. According to reports, the deal fell through a few weeks ago after Facebook expressed its intention to relocate the Waze team to California, against the wishes of the start-up, which wants to remain based in Israel.
Waze is a community-based mapping, traffic and navigation app. The service has 50 million users who collaborate to live-map road related news, including accidents, hazards and traffic jams.
In a blog post announcing the news, Brian McClendon, the vice president, geo at Google, said: "The Waze product development team will remain in Israel and operate separately for now.
"We're excited about the prospect of enhancing Google Maps with some of the traffic update features provided by Waze and enhancing Waze with Google's search capabilities.
"We'll also work closely with the vibrant Waze community, who are the DNA of this app, to ensure they have what's needed to grow and prosper.
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