Google acquires Waze Mapping Service for $1.03 billion

In a major acquisition Google has bought online mapping service ‘Waze’ for a deal of $1.03 billion.
How will it help Google?

  • Waze will allow Google to gain technology that is meant to improve the accuracy and usefulness of its own popular navigation system.
  • Waze Mapping service has combined elements of a social network into its maps to produce more accurate directions and more reliable information about local traffic conditions.

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