Report: Google’s $1.3 Billion Waze Acquisition Is Under FTC Antitrust Probe

Posted on Jun 24 2013 - 11:03am by Editorial Staff

Google

Google’s $1.3 billion Israel-based startup Waze acquisition does not means that the company already hold the pie, as according to a report which was initially flagged by the New York Post and later Google confirmed to the Wall Street Journal that FTC has contacted it over the report. The probe centered around  on understanding Google’s intention for buying Waze as well as hoe the deal will make an impact to its rival in the world of mapping.

Waze which is having about 50 million registered users with little revenue it is making results in triggering an antitrust probe straightaway. Google said in earlier reports that it will run Waze as an independent company while it has plans to adds Waze’s traffic monitoring to its own maps and give the Israeli stratup broader access to Google’s own mapping technologies.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.