waze

An Israeli newspaper is reporting today that Google has won the bidding war for the popular crowd-sourced navigation app Waze. The two companies are in the process of finalizing an acquisition deal said to be worth $1.3 billion.

The report comes after several months of speculation that Waze was in buyout talks with a number of tech giants including Apple, and more recently Facebook—all with price tags in the neighborhood of a billion dollars…

Globes has the scoop:

“Sources inform ”Globes” that Google Inc. (Nasdaq: GOOG) will acquire Waze Ltd. for $1.3 billion. The acquisition of the Israeli navigation app and traffic report start-up will be completed after months of reports that Waze would be sold to either Google or Facebook Inc. (Nasdaq: FB).”

The report goes on to say that Facebook representatives arrived in Israel to meet Waze executives, but no deal was reached due to the inflated price tag and the fact that it didn’t want Waze’s Israeli employees to continue working in Israel.

But Google was apparently ok with both the price tag and location, and will soon own the company outright. The deal will turn some Waze founders into multimillionaires, including CTO Ehud Shabtai, who will earn a cool $78 million.

If true, the acquisition would create an interesting situation for Apple, who currently lists Waze in the Attributes section of its Maps app as a partner. Would Google continue to let it supply data to Apple after the buyout is complete?

With mapping software becoming increasingly more important to platform success, this deal could potentially have some serious ramifications. Stay tuned.

  • Linton Findlay

    Id prefere google biying it over facebook, even though facebook users would make the service alot better/ worse if there is spammers

  • Diego Gastón Milano

    As long as Google continues to monopolize the Internet’s various services, more and more companies will end up being entirely dependent on Google.
    I’m sure Navigation has turned into a very important feature on the mobile scene, however and although others might disagree, personally I hardly ever use maps, so for me -at least- there’s much more room for improvement and innovation in other aspects of these devices.

  • Cool, hope they merge it’s features (whatever they are) into Google maps…more than satisfied with Google maps for all my mapping needs.

    • bw00ds

      Oh, please, no. Waze is so superior. You should try it. It is free, after all.

  • f5faith

    Google = 5 sec. wait whilst it loads an advert with blazing speed. Then when it comes to the content you actually want, it takes a century to load.

  • Jack Wong

    wow 1.3B!

    This app still doesn’t has avoid toll option somehow.

  • Dave Elg

    Waze has got me out of more than one speeding ticket. Here’s hoping Google doesn’t mess it up too much.

    • Gorgonphone

      How??

      • Dave Elg

        Crowd sourced speed trap data. I’m guessing you haven’t used Waze before? This is one of the main features.

  • Gorgonphone

    They are nust doing this too keep it out of apples hands llol… Apple is too ignirant and kocky to care either way

  • seyss

    oh no
    evil google again

  • mav3rick

    Wait. There are apple maps, too… Or not for so long… Anyway, it never was real competing maps.
    Crushed again by mighty G…