Google officially buys mapping company Waze
Google is no stranger to big acquisitions and today another one becomes official. Google has purchased Israeli mapping company Waze, lets hope they actually put them to use.
Rumors have been rampant the last couple of days that Google was in talks to acquire Waze, best known for their crowdsourced mapping software. Other companies in the running included Microsoft, Apple, and Facebook, so Google coming out the victor is quite an accomplishment. As expected, the acquisition didn’t come cheap at all for the internet search giant.
Although Google has decided not to offer details on an exact purchase price, outlets are reporting anything between $1.1 billion to 1.3 billion. Regardless of which number is correct, it’s clear that the price was steep.
This is what can only be described as a powerplay move to ensure that Google remains at the top when it comes to mapping because Waze has about 50 million users, combining that with their extensive database and it all becomes worth too much to leave on the table. Their crowdsourcing efforts also provide them with accurate and timely information from drivers on the road at any given time.
Google is a company that prides itself on its maps service and leaving a database like that on the table for Microsoft, Apple, or Facebook would just be bad business. As for how the company plans to incorporate it into its own products? Only time can tell on that front, but if there is one thing Google isn’t short of it’s ideas.