Digital

Google Reveals What It Paid for Mapping Service Waze

Jul 27, 2013 12:07 pm

Skift Take

Google didn’t need Waze — it already tracked the movements of all Android users — but it can afford to drop nearly a billion bucks to keep Apple from getting one of the things it truly needs to make iOS better.

— Jason Clampet

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Google says it paid $966 million to buy online mapping service Waze, six weeks after closing the deal.

The Internet search leader spelled out the purchase price in regulatory documents filed Thursday. Google Inc. withheld the price last month when it announced the acquisition of the Israel-based startup. 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.

Google also bought seven other smaller companies for a total of $53 million during the three months in June. That calculation is based on information that Google disclosed in Thursday’s document as well as a quarterly report filed in April.

Copyright (2013) Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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