Google acquires mobile mapping company, Waze.

Internet giant Google Inc has acquired waze, an Israeli mobile mapping real time service. Analysts estimate the deal to be worth about $1.3 billion. Google sees the smartphones market as ‘essential’ to its growth prospects, and this deal is informed by that. It is likely that also Google purchased waze to
keep Facebook out of the mobile mapping market. Maps are a key innovation strategy for both Apple, Google, and Facebook, who see localized advertising of local businesses such as restaurants and supermarkets as an important growing area.  

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