Google Buys Waze

Google has purchased Waze, the company that makes the popular social traffic app, but did not disclose terms of the deal.

Google confirmed the purchase in a blog post on Tuesday: "The Waze product development team will remain in Israel and operate separately for now. We’re excited about the prospect of enhancing Google Maps with some of the traffic update features provided by Waze and enhancing Waze with Google’s search capabilities."

Facebook was also reportedly interested in buying Waze for a price of around $1 billion.

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