After rumours and speculation about the proposed purchase of the company behind the crowd sourced navigation application Waze. Today its been officially announced that Google has indeed purchased Waze for $1 billion confirming the rumours that have been circulating since early May to be true.
The Waze application is a free social GPS application that features turn-by-turn navigation, developed by the Israeli start-up Waze Mobile. Waze CEO Noam Bardin said in a blog post Tuesday morning, “I am excited to announce today that we have accepted an offer to join Google,”.
However Google would not comment on the acquisition other than announcing the deal themselves on their own blog. Waze Ltd. was founded in 2008 in Israel by Uri Levine, software engineer Ehud Shabtai, and Amir Shinar, and was also reportedly approached by both Apple and Facebook.
Source: USA Today
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