Google buys Israel’s Waze to protect mobile maps lead

Google bought Israeli mapping startup Waze on Tuesday for an undisclosed sum, acquiring an online real-time mapping service to safeguard its own lead in one of the most crucial aspects of smartphone usage.

A source close to the matter told Reuters on Monday that the Internet search leader was putting the finishing touches on a deal to take over the company for US$1.3 billion (HK$10.1 billion). Google said it had closed the deal and now planned on using Waze’s service to enhance its own Maps product, but did not say how much it paid.

via Business feed http://www.scmp.com/business/companies/article/1258998/google-buys-israels-waze-protect-mobile-maps-lead