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    Join Date
    Aug 2011
    Lahore, Pakistan
    Blog Entries

    Google has closed a deal to purchase Israeli developer cards

    Waze sold for just over $ 1 billion. Internet giant Google has closed a deal to buy Israeli start-up Waze, which is developing a mobile mapping and navigation technology, the vice-president of Google geoproducts Brian McClendon in a corporate blog.

    Amount of the transaction were not disclosed, but according to sources, the Reuters news agency, it was just over $ 1 billion According to Waze CEO Noam Bardin, the team has opted to join a startup to a large company, not IPO, because it wants to focus on the product.

    "The team and product development Waze will remain in Israel, and as long as work independently. We are encouraged by the prospect of improving the Google Maps service some of the features that makes Waze, and, in turn, improved search capabilities Waze Google", - says McClendon.

    Recall, along with Google, Waze negotiating the purchase of a $ 0.8-1 billion over six months led the world's largest social network Facebook. In October 2012, when Waze has released an updated version of an application that allows users to share information about the situation on the roads with friends on social networks in real time, Facebook has entered into a partnership with her. According to unofficial information, the startup and the company was interested in Apple.

    Earlier, Israeli media reported that the leadership of Waze gives priority to deal with Google, because it wants to its employees continued to work in Israel, and Facebook did not accept such terms. User base Waze, founded in 2009, reaches 50 million people.

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