Google grabs up Waze
·11 Jun 2013
Google Inc bought Israeli mapping startup Waze on Tuesday for an undisclosed sum, acquiring an online real-time mapping service to safeguard its own lead in one of the most crucial aspects of smartphone usage.
A source close to the matter told Reuters on Monday that the Internet search leader was putting the finishing touches on a deal to take over the company for $1.3 billion. Google said in a Tuesday blog post that it had closed the deal and now planned on using Waze’s service to enhance its own Maps product, but did not say how much it paid.
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