Google has just acquired Waze Mapping and navigation application for estimated $1 billion. After rumors from past few weeks Google finally acquired it. For those who don’t know what Waze is, it is a mapping and navigation app with a strong social features into it. It is available as an iOS app it offers real-time traffic information like traffic condition, accidents, gas stations etc., all crowd sourced.
To help you outsmart traffic, today we’re excited to announce we’ve closed the acquisition of Waze. This fast-growing community of traffic-obsessed drivers is working together to find the best routes from home to work, every day.
Mapping and Navigation is one of the most important tool in maintaining smartphone platform dominance and with Waze Google will further strengthen Google Maps over competition. For now Google says Waze will function independently but you can expect the good parts of Waze features in the Google Maps sooner than later. Adding real-time traffic information to Google Maps makes it perfect mapping tool and preserve its dominance.
Waze’s product development team will remain Israel where Waze is based and operate separately for now, according to Google. Waze will get Google’s search capabilities and Google Maps some of the Waze features. Waze apps are already available on iOS and Android.