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.

Month: Current Affairs - June, 2013