Google reveals Waze cost $966 million

Google reveals Waze cost $966 million

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San Francisco: Google has revealed that it paid $966 million to buy online mapping service Waze. The deal was closed six weeks ago.

Google Inc. had not revealed the price when it announced the acquisition of the Israel-based mapping company. The Associated Press and other media outlets had previously pegged the purchase price at $1 billion, based on information from people familiar with the negotiations who didn’t want to be named. According to a calculation based on information disclosed in the regulatory document, Google also bought seven other smaller companies for a total of $53 million.

Source: wasingtonpost.com