Google Pays $1B For Israeli Mapping Tech Startup

Law360, New York (June 11, 2013, 3:53 PM EDT) -- Google Inc. bought an Israeli startup for a reported $1 billion on Tuesday to boost the mapping capabilities of its Android smartphones, ending a flurry of speculation over who would purchase the startup, which also had drawn high-profile interest from Facebook Inc.

With Waze Inc. in its arsenal, Google gains an increasingly popular social application that helps drivers find the quickest routes with real-time traffic information — not only bolstering its own offerings but keeping rivals Facebook and Apple Inc. from encroaching on its dominant place...
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