One of the latest headlines that grabbed the eyeballs is about the search giant Google's Waze acquisition. As per the latest update, Google has just completed Waze acquisition for $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. Also, Waze blends elements of a social network into its maps to produce more precise directions and more reliable information regarding local traffic conditions.
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In a recent blog post, Brian McClendon, Google Vice-President who oversees maps, wrote, "We are excited about the prospect of enhancing Google Maps with some of the traffic update features provided by Waze and enhancing Waze with Google's search capabilities.”
Brain further added that Waze's sharing tools also could help Google to improve its own 2-year-old social networking service, called Google Plus.
Market watchers also believe the latest acquisition can give the search giant an upper hand over its competitors by allowing Google to gain technology that could improve the accuracy and usefulness of its own popular navigation system.
