Google Finally Buys Waze
Google has acquired Waze. Terms of the deal have not been disclosed.
Waze is a social traffic and navigation app that is based on a large community of tens of millions of drivers around the world sharing real-time road info and more to everyone else’s benefit. Waze has near 50 million users and in 2012 drivers shared 90 million reports as they drove 6 billion miles (9.66 billion kilometres).
IMS is actually in charge of selling Waze´s application in Latin America.
Israeli media had reported that a deal between both parties was underway over the weekend with a price-tag of $1.3 billion mentioned at the time, and those reports were followed up by AllThingsD, Bloomberg and Reuters, who all said sources indicated that its closing was imminent.
The Waze app is to remain remain independent “for now,” says Google, and the company’s product development team will remain in Tel Aviv, Israel, rather than moving to Google HQ in California. In a post on Waze’s blog, CEO Noam Bardin says “nothing practical” will change at Waze, and the company’s employees, management, and founders “are all committed to our vision for many years to come.”