Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek

Trending

Filed under: News | Technology News

 

Google Is Acquiring Waze

The tussle between Google and Facebook to acquire Waze lasted a long time. Google may be the winner however since it is looking forward to acquiring it for a record $1.1 billion.

Jun 10 2013, 3:55am CDT | by

1 Updates
Google Is Acquiring Waze
 
 

YouTube Videos Comments

Full Story

Google Is Acquiring Waze

Google Is Acquiring Waze

The speculation is over as Waze has decided to choose Google over Facebook as its main buyer. For months on end the battle for acquiring the rights to Waze, the social traffic app, was raging in all its might. But now a final decision has been reached. Israel-based Waze has over 50 million users. In the past, both Facebook and Apple have been the potential wooers of Waze. Waze had stipulated that it wanted its Israeli workers to remain in Israel, its homeland. This was however unacceptable to Facebook which therefore backed out of the deal. But Google has no such hang-ups since it already has one of its branches in Israel.

Apple’s CEO, Tim Cook has meanwhile said that despite rumors Apple Incorporated was never interested in Waze in the first place. The constant tussles between rival buyers had created an auction-like atmosphere and now that Google is the final bidder a sort of peace has descended on the process.

Waze has built its reputation as a traffic app facility. It lets its users know whether there are any traffic jams along the way. Police surveillance is also pointed out by Waze. Finally, it warns you regarding speed monitoring cameras and roadside hazards. Formed five years ago, Waze has progressed rapidly through the ranks to earn some pretty hefty amounts of money for itself and its administrative staff.

Whatever the case, by now Google has come closest to buying Waze. The officials at both Waze and Google refused to comment on the situation. While the ink is not exactly dry on the agreement papers, still the deal has been almost finalized. The $1.1 billion may pinch Google a little but then nothing comes for free in today’s hyper-economic times.  But this acquisition was first reported yesterday by an Israeli finance paper for price deal of $1.3 billion. Yet according to Bloomberg's recent sources, it would be off $ 1.1 billion. And the biggest thing is that Waze will retain its independence.

This banished any thoughts of Google taking over the working order of Waze.  Waze is not as huge an organization as Google. But it is very correct in its prognostications since the regular users keep lending feedback regarding traffic conditions. That is the attractive thing about Waze. And Google’s bold move has given it the rights to this golden sparrow over so many other contenders.

 

You Might Also Like

Updates


Sponsored Update


Advertisement


More From the Web

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.

 

 

Comments

blog comments powered by Disqus

Latest stories

Nokia partners with Samsung to bring HERE maps to Galaxy smartphones
Nokia partners with Samsung to bring HERE maps to Galaxy smartphones
Samsung has signed a partnership with Nokia to bring its iconic HERE maps on Samsung Galaxy smartphones. Samsung isn't pulling out Google Maps though, rather, it is offering users a reliable option.
 
 
Apple&#039;s first wearable will not ship until 2015
Apple's first wearable will not ship until 2015
If true, Apple, as it has always been, must be very confident about its timing. After all, it will be the company's new product from an entirely different category, and people will most likely be patient about it.
 
 
Jennifer Aniston tasted Jimmy Kimmel&#039;s Wife’s Breast Milk
Jennifer Aniston tasted Jimmy Kimmel's Wife’s Breast Milk
The Friends starlet, Jennifer Aniston shared some very personal matters with the press recently. They included tasting her male friend Jimmy Kimmel's wife’s breast milk! Jimmy Kimmel's
 
 
Gwyneth Paltrow facing Lawsuit
Gwyneth Paltrow facing Lawsuit
The famous actress and creator of a website named Goop, Gwyneth Paltrow, is facing a lawsuit by a man who claims she plagiarized his creative phrase. And she is also concerned about her ex-husband’s new relationships.
 
 
 

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.