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ReportTT: Google considering Waze buyout

Report: Google interested in acquiring social mapping service Waze

| Business, Financial & Legal News | Posted: May 24, 2013 11:30 pm

Rumors have made the rounds that Facebook is interested in the social mapping service. According to a Bloomberg report, Google may also be considering a Waze buyout. This is good news for Waze as the two companies would likely enter into a bidding war; it's not such great news for the companies themselves as the price will go up.

 

TweakTown image news/3/0/30598_1_reporttt_google_considering_waze_buyout.jpg

 

The report states that Google and others have approached Waze since the news of Facebook's talks were made public. Waze is reportedly seeking in excess of $1 billion, so it's very possible that talks fall through and Waze remains an independent company. Greg Sterlin, an analyst at Opus Research, suggests that Google may acquire Waze to prevent competition or add social features to its own Maps product:

 

If they put a lot of effort behind it and really try to develop a social mapping product, it could be something significantly differentiated from what Google is offering and could grow into a competitor for Google Maps.

 

We're still a good distance away from Waze being acquired as the acquisition would likely undergo scrutiny from the FTC and other government groups. If Waze does enter into an acquisition deal, you'll be able to read about it here on TweakTown.

NEWS SOURCE
Bloomberg.com

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