Google said to be buying Waze social mapping app for $1.1 billion

Google has reportedly struck a deal to purchase Waze, a popular mobile mapping app, for $1.1 billion.

Citing unnamed sources, Bloomberg reported that the Silicon Valley giant could officially announce the deal as early as Monday.

The move would improve Google’s mapping software by adding to it the social components that are used in Waze, a start-up based in Israel. In the app, users notify their peers of accidents, traffic jams or other obstructions that may delay their commutes.

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The acquisition eliminates a potential competitor to Google Maps and it also keeps Waze’s technology out of the hands of other tech rivals. Facebook was also rumored to be interested in Waze as recently as last month, and others were said to have also expressed interest.

Neither Google nor Waze could be reached for comment.
Though Waze has been around for years, the app rose in popularity late last year when Apple dropped Google Maps as its default navigation app on the iPhone and switched to Apple Maps. The company’s internal software was met with poor reviews, and Apple CEO Tim Cook was forced to apologize. He recommended other apps, among them Waze, which now has more than 40 million users.

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