Google Buys Social GPS Company Waze


Google has acquired Israel-based community traffic and navigation app company Waze. Google Maps will start incorporating Waze traffic update features, says Google. Waze will be using Google’s search capabilities.

Noam Bardin (CEO, Waze): Why not stay completely independent? We asked ourselves: “Will Waze still be a fun project to participate in, and a fun place to work, as a stand-alone public company?” Choosing the path of an IPO often shifts attention to bankers, lawyers and the happiness of Wall Street, and we decided we’d rather spend our time with you, the Waze community.

While the companies did not reveal the size of the transaction, the deal is reportedly worth $1 billion in cash. Additionally, there is expected to be a $100 million in performance payouts.

The Waze product development team will remain in Israel and operate separately for now, says Google.

[Image courtesy: Waze]


Also see:

TransUnion to acquire Neustar for $3.1B

TransUnion has signed a definitive agreement to acquire Neustar from a private investment group led by Golden Gate Capital and with minority participation by GIC.

Huvr raises $5M

Huvr, a cloud-based industrial asset management solution company, has raised $5 million.

American Express acquires fintech company Kabbage

American Express has entered into an agreement to acquire Kabbage, a financial technology company that provides cash flow management solutions to small businesses.

AP to equip visual journalists globally with Sony imaging products

Sony and The Associated Press (AP) have inked a collaboration that will make Sony the exclusive imaging products and support provider for AP news photographers and video journalists globally.

Equifax acquires Ansonia

Equifax has acquired Ansonia, a provider of business credit, collections, and account receivable data used by financial institutions, creditors, and businesses focused on the transportation and logistics industries.