Google set to buy Waze traffic app for $1.3 billion, according to reports

waze

It looks like nobody will be able to compete with Google Maps anytime soon. Last month, rumors of Facebook and even Apple attempting to acquire Waze surfaced. Now, The Wall Street Journal is reporting that Google is close to sealing the deal to buy Waze for $1.3 billion, with the deal likely to be confirmed sometime this week.

Waze is a mapping, traffic and navigation app with built-in social features. It’s available for free on iOS and Android, and it must be pretty good at its job — the app has around 50 million users according to the company. An acquisition by Facebook or Apple would have brought them closer to competing with Google on the maps front and Microsoft in particular will take a blow from this deal, as a Windows Phone version of Waze was currently in the works. Whether Google decides to let work on that project continue remains to be seen, but considering their recent tussle with Microsoft on YouTube, I’d say it’s unlikely.

Google’s purchase of Waze eclipses Yahoo’s recent $1.1 billion purchase of Tumblr, just a few weeks ago.

[via WSJEngadget]

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3 comments

  1. Kat

    Why do people sell-uot to these buggers? Thry should hold out and compete, not fold. And Google etc should not be allowed to force them to sell, OR force them out of the market. And THAT is Google’s prime objective. Business NEEDS to be regulated.

  2. naveed

    Wow, google and what exactly is it that you plan to do with it? If you’re planning on taking it to the back and shooting it, which is what it looks like, just so that microsoft doesn’t get their hands on it, so much for your “don’t be evil” idealogy, not that anyone believes it anymore.