Google acquires map app Waze at estimated price of $1.3 billion

Sydney, June 12 (ANI): Search engine giant Google has announced a deal with Israel-based Waze, a map app for an estimated price of 1.3 billion dollars.

According to News.com.au, in a bid to stay ahead of Apple and Facebook in lifestyle-centered apps on devices, Google acquired Waze to 'outsmart traffic' and find best routes from home to work everyday.

Vice President of Google Geo-products, Brian McClendon said that Waze and Google will help enhance each other with the traffic update feature of Waze, and Google's search capabilities.

Waze, which was earlier eyed by Facebook, aims at creating driving easier with reliable street maps.

According to the report, Waze was introduced in US after its success in Israel four years back which allowed motorists to gauge traffic, know about speed traps, short cuts, hazards and accidents. (ANI)

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