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Google acquires Israel’s Quiksee

Israel: Google is continuing its buying spree with the acquisition of Israel-based company, Quiksee. The deal is estimated at USD 10 million. Earlier in April, Google acquired Israeli startup LabPixies for about USD 25 million.

Yossi Matias, managing director of Google’s Israel development centre, said in a statement, “Google was committed to continue investing in Israel, both by expanding and deepening our activity as well as by continuing to strengthen our collaboration with companies and start-ups in Israel.”

Quiksee, also known as MentorWave Technologies, allows users to create location-based interactive media content. Two investment groups, Ofer Hi-Tech and Docor International,have put USD 3.5 million into Quiksee,  while a number of private investment “angels” have backed the firm.

Quiksee was founded in 2002 by Gadi Royz, Assaf Harel, Pavel Yosifovich and Rony Amira. While the firm’s sales revenues are unknown, the amount is not considered to be very high – for now. But the firm’s technology is regarded as the missing link in Google’s Street View service (used by both Google Maps and Google Earth), which allows users to view photos along with numerous streets around the world.

Source: Haaretz & Reuters