Google wants to step firmly on the mobile application market and traders have started speculating about a coming acquisition of Waze.
Speculations about the deal
Google Inc. has reportedly agreed to acquire map-software company Waze Inc. for about USD 1.3 billion. The plan was first reported by the Israeli financial daily Globes. The move could be a step in Google’s future development as more consumers shift to smartphones and that is why a firm position on the navigation software market is needed.
In June the Google Nexus 4 smartphone was launched on the market and was sold out in the US. The stock version Android 4.2.2 phone went out of stock in other parts of the world, like India, as well.
Who are Waze?
Waze is a company that was started in Israel and later moved its headquarters to the U.S. The company provides a mapping application to its customers and has reportedly attracted over 6 percent of the iPhone users in the United States. Waze uses satellites to provide maps and traffic data from members' smartphones to other users. This way traffic information is offered to users in real time.