Report: Google close to Waze deal

Report: Google close to Waze deal

10 JUN 2013

Google could announce a $1 billion-plus deal to acquire navigation app company Waze “as early as today”, although such a deal is likely to require regulatory approval.

A confirmed deal would end months of speculation about the future of the Israel-based company, which has previously been linked with Apple and Facebook.

According to Bloomberg the deal will be worth $1.1 billion, while Globes yesterday suggested $1.3 billion.

While the transaction would enable Google to bolster its own mobile mapping services, the deal would also enable it to ensure that Waze does not fall into the hands of a rival – and remove a threat to its own products.

Bloomberg reports that an acquisition of Waze by Google may come under US regulatory scrutiny, due to its “potential to alter the competitive landscape”.

Waze is reported to have around 50 million users.

According to Globes, while Facebook met with Waze to discuss a deal, it would not guarantee that it would maintain the existing workforce in Israel.

In contrast, Google already has an office in the country, and made two acquisitions of companies based there.

Waze, which blends mobile navigation with social features, was named Best Overall Mobile App at the 2013 Global Mobile Awards.

Author

Steve Costello

Steve works across all of Mobile World Live’s channels and played a lead role in the launch and ongoing success of our apps and devices services. He has been a journalist...More

Read more

Related

Tags