Bloomberg is report that the search engine giant Google is all set to acquire the free social GPS company Waze for an amount of $1.1 billion. The report also divulged that the declaration of acquisition may possibly be announced as early as tomorrow. Here is how Bloomberg has described it in its latest report:
“Google Inc. has agreed to acquire map-software provider Waze Inc. for about $1.1 billion, a person with knowledge of the deal said, seeking to keep competitors such as Facebook Inc. (FB) from eroding its lead in mobile-navigation programs. The deal for Waze, based in Palo Alto, California, may be announced as early as tomorrow, said the person, who asked not to be named because the plans are private.”
However, according to Israeli publication Globes, although, Google and Waze’s deal was on the cards, the Mountain View-based company is paying $1.3 billion to acquire the social mapping service rather than $1.1 billion. So far none of these reports have received any confirmation from Google or Waze, but if these speculations prove true then, it will really help the search engine giant to ward off its rivals in the mapping service along with Facebook that is looking to commence its own service.
In fact, Facebook was one of the big tech companies that was looking to acquire Waze, as earlier reports suggests that the social networking website has offered roughly $1 billion to the social mapping service back in May. It was also reported that Facebook and Google were not the only big tech companies that were after Waze, as Cupertino-based Apple was also interested in buying the mapping service. However, at All Things D’s D11 conference CEO Tim Cook refuted this rumour by saying that his company had not made a bid for Waze.
Already, Google Maps is rated as the best mapping service in comparison to the mapping apps of Apple and other services. This was first realised when Apple launched its own Maps App for iOS devices in place of Google and the company received severe criticism from both users and analysts over its poor mapping service that has left many travelers stranded. As a result of that Apple’s Map App, which was launched with iOS 6, failed against Google Maps.
This does not mean at all that Apple’s Map App does not work well in all regions, but still the California-based company was just not able to offer a consistent service. Let’s hope that Google would not change Waze too much if it acquires the start up.
Source: iPhoneinCanada
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