The search giant Google is once again ready to grab limelight by making a significant acquisition. If reports are to be believed, this time, Google is all set to buy a maker of eponymous crowd sourced mapping app, Waze. The deal is supposed to close for at least $1.3 billion.
Founded in 2006, Waze is a mobile-oriented navigation device for drivers that rely on information provided by its 47 million members to populate its maps. Waze uses satellite signals from members’ smartphones to generate maps and traffic data, which it then shares with other users, offering real-time traffic information.
The latest acquisition will further help Google to enable its users to tap into shared traffic and navigation information.
The acquisition deal is expected to announce by this week. However, it is difficult to say anything confirmed on this as any spokesperson from Google declined to comment on the acquisition, while Waze did not respond to the request for comment.
