The Waze saga is finally over, as Google decided to spend billion dollars on purchasing this company. This has been the 16th company that Google bought so far spending approximately $1.31 billion. What we’ve learned is that buying a map service isn’t cheap as everybody thinks and the expectations of this company are big because Google probably wants lots of improvements coming from this company. There aren’t any official statements of what was the main purpose for this acquisition but we can guess that Waze will have busy time working under Google’s guidance.
This acquisition was disclosed Thursday as Google paid $966 million for acquiring this Israel-based company which stands behind the Waze application. This sum is noted into a financial report for Q2 2013 that Google filled to Securities and Exchange Commission. The whole sum includes $847 million in goodwill, $188 million for hiring intangible assets and minus $69 million in some net liabilities. We saw lots of speculations previously that Google paid $1 billion for Waze but we all thought that it’s just a speculation.
In the filling, Google wrote that they have bought Waze Limited (aka Waze) in June 2013. This company is a mobile map app that supports turn-by-turn navigation and traffic updates in real time. It also supports incidents and other important information about your required route which is submitted by users. The total cash that stands in the filling is $966 million. From this acquisition, Google’s customers experience will be enhanced offering them real time traffic information to their daily navigational requirements.
Google came out as a winner acquiring Waze because Apple and Facebook were also mentioned as Waze buyers. This navigational company works based on driver’s experience through the traffic for finding the best routes. When this startup joined Google rather than moving independent, it said that they just wanted to keep all the attention focused on its driver’s community.
We mentioned earlier that Google has spent $1.31 billion purchasing 16 companies in the first half of this year. It acquired Makani Power (a prototype kite for generating power), Behavio (Android mobile data firm) and Wavii (startup Web page).
That’s how it is with these big players in the market. They always seek to buy a company that will fit their criteria into building some new features or improving older. We can say that Google didn’t use the full potential of its acquisitions by now but as we can see, they have bought a lot of them this year and something big is cooking in their oven. Google bought Motorola a year ago and finally this year they are set to release its high-end device called Moto X.