Google announced it was buying Waze navigation application

Beijing time on June 12, Google (weibo) confirmed on Tuesday that the company has bought a map of Israel and navigation services start-up Waze, hoping to use Waze real-time traffic information update feature to enhance its Google maps services.

after reports that Google will with more than $1 billion to buy Waze, and the earliest is expected to officially announce the deal this week. But on Tuesday, Google hasn’t disclosed the transaction price. From the point of the value of the dollar, expect the mergers and acquisitions is the size of the Google company history’s fourth largest trading.

Waze is a free application, can be in apple’s devices, and based on the Google Android mobile operating system to run on its users currently has over 190 countries around the world. Waze mobile GPS information is used to obtain information about the road traffic flow, so as to provide a better route to car drivers. Waze also has a community composed of more than 70000 members, these members help Waze edit maps and add some details, such as specific gasoline prices of gas station, or where the driver should be aware of speeding surveillance area and avoid accidents.

a source familiar with the situation before, big technology companies such as Facebook and apple has also expressed interest in buying Waze founded the company for five years, that highlights the importance of mapping services for mobile devices is growing.

Google’s official blog published Tuesday confirmed the deal, said it plans to use Waze transportation information update feature to enhance the Google maps service, at the same time, using the Google search function to improve Waze. For now, Google said, Waze product development team will remain in Israel and independent operation. After reports that Facebook wants to transfer Waze team to silicon valley, and at this point is not willing to make concessions, and eventually terminated so the takeover talks.

Waze, chief executive of Noam patin (Noam Bardin), said he had decided to sell the company, because the transaction is completed Waze will continue to operate independently, but also can make Waze not listed IPO (initial public offering).

after the announcement, Google’s shares fell 0.8%, to $883.26. So far this year, Google’s share price rose 25%.

the following is a Google statement published on its blog:

we have encountered such a situation: got stuck in traffic, because she felt chagrined chose the wrong route. But imagine, if you can see from friends and traveler in front of you of real-time traffic information updates, for example: “slightly in front of the traffic accident…… The left lane is completely blocked!” And still can let you know what other people are choosing more unobstructed quick route.

in order to help you with your own wisdom to overcome the phenomenon of traffic congestion, we are here today is excited to announce that we have completed the acquisition of Waze deal. Obsessed with updated traffic information Waze pilot community is growing rapidly, every day they will hand in hand to help you find the best route from home to company.

at the moment, Waze product team will stay in Israel and independent operation. We will provide some use Waze transportation information update feature to enhance service, Google map and Google search function is used to enhance Waze services, that prospect makes us excited.

we will also work closely with vibrant Waze community, to make sure they have indispensable to the growth and prosperity development, because they make up the application of DNA.

Waze community and its dedicated team has created excellent sources of real-time road surface modification and update information, we welcome them to join Google, and look forward to cooperate with them, so as to make a comprehensive, accurate and useful global map.

Google maps and Google earth product, vice President Brian McKellen (Brian McClendon)

the following post published the full text is bardeen:

Waze employees:

I announced with aflame mood, today we have already accepted Google’s offer, will join the company. I want to share some information here, to illustrate what the deal means to Waze.

Larry Page (Larry Page), Brian McKellen, and Google maps team has always been closely track in our development course, and we have the achievements of excited. With them we have to build a global map service Shared dreams, want to real-time information updates, the local community and hope to help us to speed up the process. We can compete with Google maps team is excited at the prospect of the cooperation, this will help to enhance the capacity of our search, we will build with them the best in the world map.

for Waze, the deal will not bring any real change. We will retain their own communities, brands, services and organization structure, community level, responsibilities and processes will remain unchanged, Waze staff will continue to cooperate with you. We will continue to innovate their products and services, make it become more social, more powerful, can provide the car drivers with daily help. In the coming days, the founder of our employees, managers, and I will be with all my heart to realize our dreams.

as to why not remain completely independent of the problem, we had a problem ask yourself: “if Waze became an independent listed companies, would be an interesting project, make people willing to participate in the will is a let people willing to work in this interesting place?” If you select the IPO road, often means that we must turn their attention to bankers and lawyers, and try to please the Wall Street; And our decision is, we prefer to spend time on the cooperation with Waze community. Google promised to help us achieve our common goals, and will provide us with independence and the resources necessary for success. We have many choices to make evaluation, finally think Google is Waze our map editor as well as the company itself, the regional managers and global Waze nearly 50 million users the best partners.

with Google to later, we can more quickly complete help people use their intelligence to overcome the congestion phenomenon. We will continue to impact on real car drivers around the world, and help them to save time and money, at the same time let everyone’s daily commute have become more effective and fun.

as a result, we now it is time to go back to work with new colleagues, we will use new resources to enhance their own projects. Thank you for your participation, let Waze became today’s appearance; We look forward to continue will Waze development together with you.

let’s see on the road.

noam

translation: tencent technology