https://www.channelfutures.com/wp-content/themes/channelfutures_child/assets/images/logo/footer-new-logo.png
  • Home
  • Technologies
    • Back
    • Analytics
    • Artificial Intelligence
    • Cloud
    • Data Centers
    • Desktop
    • IoT
    • Mobility
    • Networking
    • Open Source
    • RMM/PSA
    • Security
    • Virtualization
    • Voice/Connectivity
  • Strategy
    • Back
    • Best Practices
    • Business Models
    • Channel 101
    • Channel Programs
    • Channel Research
    • Digital Transformation
    • Diversity & Inclusion
    • Leadership
    • Mergers and Acquisitions
    • Sales & Marketing
    • Specialty Practices
  • MSSP Insider
    • Back
    • Business of Security
    • Cloud and Edge
    • Endpoint
    • Network
    • People and Careers
    • Training and Policies
  • MSP 501
    • Back
    • 2020 MSP 501 Rankings
    • 2020 Hot 101 Rankings
    • 2020 MSP 501 Report
  • Intelligence
    • Back
    • Our Sponsors
    • From the Industry
    • Content Resources
    • COVID-19 Partner Help
    • Galleries
    • Podcasts
    • Reports
    • Videos
    • Webinars
    • White Papers
  • EMEA
  • Awards
    • Back
    • Excellence in Digital Services
    • 2020 MSP 501
    • Top Gun 51
  • Events
    • Back
    • CP Conference & Expo
    • Channel Partners Evolution
    • Channel Evolution Europe
    • Channel Partners Event Coverage
    • Webinars
  • Channel Mentor
    • Back
    • Channel Market Intelligence
    • Channel Educational Series
Channel Futures
  • NEWSLETTER
  • Home
  • Technologies
    • Back
    • Analytics
    • Artificial Intelligence
    • Cloud
    • Data Centers
    • Desktop
    • IoT
    • Mobility
    • Networking
    • Open Source
    • RMM/PSA
    • Security
    • Virtualization
    • Voice/Connectivity
  • Strategy
    • Back
    • Best Practices
    • Business Models
    • Channel 101
    • Channel Programs
    • Channel Research
    • Digital Transformation
    • Diversity & Inclusion
    • Leadership
    • Mergers and Acquisitions
    • Sales & Marketing
    • Specialty Practices
  • MSSP Insider
    • Back
    • Business of Security
    • Cloud and Edge
    • Endpoint
    • Network
    • People and Careers
    • Training and Policies
  • MSP 501
    • Back
    • 2020 MSP 501 Rankings
    • 2020 Hot 101 Rankings
    • 2020 MSP 501 Report
  • Intelligence
    • Back
    • Our Sponsors
    • From the Industry
    • Content Resources
    • COVID-19 Partner Help
    • Galleries
    • Podcasts
    • Reports
    • Videos
    • Webinars
    • White Papers
  • EMEA
  • Awards
    • Back
    • Excellence in Digital Services
    • 2020 MSP 501
    • Top Gun 51
  • Events
    • Back
    • CP Conference & Expo
    • Channel Partners Evolution
    • Channel Evolution Europe
    • Channel Partners Event Coverage
    • Webinars
  • Channel Mentor
    • Back
    • Channel Market Intelligence
    • Channel Educational Series
    • Newsletter
  • REGISTER
  • MSPs
  • VARs / SIs
  • Digital Service Providers
  • Cloud Service Providers
  • CHANNEL PARTNERS ONLINE
 Channel Futures

Mergers and Acquisitions


Google Confirms Waze Purchase, Development Stays Put

  • Written by DH Kass 1
  • June 12, 2013

As expected, Google confirmed on Tuesday its purchase of Israeli mobile mapping and navigation developer Waze, an acquisition that positions it squarely in the middle of the hotly competitive user-input mapping segment.

As expected, Google (GOOG) confirmed on Tuesday its purchase of Israeli mobile mapping and navigation developer Waze, an acquisition that positions it squarely in the middle of the hotly competitive user-input mapping segment.

Brian McClendon, Google Geo vice president, acknowledged the transaction in a blog post but didn’t offer any specifics of the deal.

“We’ve all been there: stuck in traffic, frustrated that you chose the wrong route on the drive to work,” he wrote. “But imagine if you could see real-time traffic updates from friends and fellow travelers ahead of you, calling out ‘fender bender … totally stuck in left lane!’ and showing faster routes that others are taking. To help you outsmart traffic, today we’re excited to announce we’ve closed the acquisition of Waze. This fast-growing community of traffic-obsessed drivers is working together to find the best routes from home to work, every day.”

According to an account in AllThingsD, Google paid $1 billion for Waze plus about $100 million in incentives and other compensation to Waze employees.

Earlier reports said the deal went down for some $1.3 billion, with Google outbidding Facebook (FB), which tinkered with snapping up Waze for $800,000 to $1 million but subsequently backed off, as did Apple (AAPL), although chief executive Tim Cook denied the vendor’s interest.

McClendon said the Waze development team will operate independently and remain in Israel, a condition that was said to be important to the developer. He also said that Google intends to encourage Wazers—the heavily involved Waze user community—to stay that way.

“We’re excited about the prospect of enhancing Google Maps with some of the traffic update features provided by Waze and enhancing Waze with Google’s search capabilities. We’ll also work closely with the vibrant Waze community, who are the DNA of this app, to ensure they have what’s needed to grow and prosper,” he wrote.

Waze sports some 50 million users in some 190 countries. Users contribute to updating information on real-time road conditions by driving with the app open, providing accurate road reports in real time on traffic congestion, accidents, road hazards, speed traps and other driving data. The company’s navigation app is offered on multiple platforms, including smartphones, tablets and vehicle systems for navigating roads both in its native Israel and other countries.

Waze was founded in 2009 and three years later landed a $30 million financing round from Horizons Ventures, Kleiner Perkins Caufield & Byers, and iFund. It subsequently has raised an additional $37 million from Magma Venture Partners, Vertex Venture Capital, Qualcomm Ventures, BlueRun Ventures and Microsoft (MSFT), according to a report in the Globes, a local Israeli business outlet.

At a $1 billion purchase price, Waze’s founders stand to reap a windfall estimated at $125 million, according to the Globes report.

Tags: MSPs Mergers and Acquisitions

Related


  • Mergers and acquisitions_M&A
    Calligo Acquires Decisive Data, Beefs Up Data Insights Services
    This is Calligo's 10th acquisition since it launched in 2012, and the fifth during the pandemic.
  • Security Merger
    Palo Alto Networks Unveils Bridgecrew Acquisition, Prisma Access 2.0
    Bridgecrew is a pioneer in shift left, focusing on infrastructure as code (IaC).
  • VDI
    TA Associates to Acquire Virtual Desktop OS Provider IGEL
    Microsoft and HP veteran Bill Veghte will become IGEL’s executive chairman.
  • Merge road sign
    M&A Activity in Tech Sector Is Booming, Shows No Sign of Slowing
    ConnectWise’s acquisition of Service Leadership and Pax8’s new partnership with RocketCyber are among the highlights.

Leave a comment Cancel reply

-or-

Log in with your Channel Futures account

Alternatively, post a comment by completing the form below:

Your email address will not be published. Required fields are marked *

Related Content

  • Huntress Acquires Level Effect EDR to Beef Up Platform
  • Hornetsecurity Acquires Altaro for Expanded Security Services
  • SolarWinds MSP President: Rebrand Will 'N-Able' Partner Opportunity
  • IBM Names CEO of New Managed Services Spinoff

Galleries

View all

Channel Partners Virtual 2021 Is the Hottest Ticket in Town

February 26, 2021

Industry Perspectives

View all

The “Roaring 20s” Are Coming

February 25, 2021

Three Ways MSPs Can Improve Supply Chain Security

February 24, 2021

SASE: The Key to Mitigating Business Transformation Risk

February 22, 2021

Webinars

View all

A Partner’s Perspective on Channel Success in 2021

March 17, 2021

XDR and Why it Matters to MSPs

March 24, 2021

Top Security Trends Impacting Technology Security Providers In 2021

March 25, 2021

White Papers

View all

Ready To Add Cutting Edge IoT Solutions To Your Portfolio?

  • 1
February 25, 2021

What Is The Value Of Distribution For The Internet Of Things?

February 25, 2021

The Internet of Things (IoT): Where do You Begin?

  • 1
February 25, 2021

Upcoming Events

View all

Channel Partners Virtual

March 2, 2021 - March 4, 2021

Channel Partners Conference & Expo

November 1, 2021 - November 4, 2021

Videos and Fastchats

View all

FASTCHAT: How SOAR Eliminates Security Challenges and Elevates Service Provider Revenues

January 6, 2021

Happy Holidays from Channel Partners & Channel Futures!

December 21, 2020

FASTCHAT: How Old, Unpatched Technologies Are Creating New Security Threats for MSPs and Their Customers

December 3, 2020

Twitter

ChannelFutures

Amazon WorkSpaces @awscloud DaaS client will be available on @IGEL_Technology virtual endpoint client OS.… twitter.com/i/web/status/1…

February 26, 2021
ChannelFutures

.@VMware cutting more workers in California as part of ongoing #workforcerebalancing. #layoffs… twitter.com/i/web/status/1…

February 26, 2021
ChannelFutures

#CPVirtual is March 2-4. It’s the hottest ticket in town — any town, since it’s 100% online — so make sure you have… twitter.com/i/web/status/1…

February 26, 2021
ChannelFutures

.@datto, @ThreatLocker partner to streamline #MSP secure business operations. dlvr.it/RtYvJK https://t.co/nKGnwbblNO

February 26, 2021
ChannelFutures

Infographic: Why Partner with Sierra Wireless and GetWireless? dlvr.it/RtYh1m https://t.co/KcBFzXIx7l

February 26, 2021
ChannelFutures

Infographic: The Sierra Wireless Essential Series dlvr.it/RtYgxv https://t.co/CatxbRHzXr

February 26, 2021
ChannelFutures

#Threatprotection is no small matter for #MSSPs. Find out what vendors say you have to do this year to protect your… twitter.com/i/web/status/1…

February 26, 2021
ChannelFutures

Cloud strategies and cybersecurity are key, and #COVID19 will have more impact than #Brexit on U.K. channel, says… twitter.com/i/web/status/1…

February 26, 2021

MSSP Insider

Newsletters and Updates

Sign up for The Channel Report, Channel Futures Update, MSP 501 Newsletter and more.

Live Channel Events

Get the latest information on the next industry-leading Channel Partners event.

Channel Partners Online

Want more? Find more channel news and analysis on our sister site, Channel Partners.

Media Kit And Advertising

Want to reach our audience? Access our media kit

DISCOVER MORE FROM INFORMA TECH

  • Channel Partners Online
  • Channel Partners Events
  • MSP 501
  • MSSP Insider
  • IoT World Today
  • Webhostingtalk

WORKING WITH US

  • Contact
  • About us
  • Advertise
  • Newsletter

FOLLOW Channel Futures ON SOCIAL

  • Privacy
  • CCPA: “Do Not Sell My Data”
  • Cookie Policy
  • Terms
Copyright © 2021 Informa PLC. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG.
This website uses cookies, including third party ones, to allow for analysis of how people use our website in order to improve your experience and our services. By continuing to use our website, you agree to the use of such cookies. Click here for more information on our Cookie Policy and Privacy Policy.
X