Google To Buy Mapping Company Waze

Sunday, June 9, 2013

Google To Buy Mapping Company Waze

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Google seems to have made a better offer that Facebook for Israeli mobile satellite navigation startup Waze, according to a Sundey report.

Google is close to buying Waze for $1.3 billion, the website of financial newspaper Globes reported today.

Last month, Bloomberg had reported that Facebook Facebook was also looking to pay up to $1 billion to acquire Waze.

The Israeli company has developed an app that gathers and correlates data from online communities and forums in order to improve driving directions.

Map and navigation services have become important for companies and Waze's real-time updates could become an important addition to Google's popular Maps service.