Google Inc. will announce as soon as Monday its agreement to acquire Waze, Inc. a provider of different map software. The price of the acquisition is said to be $1.1 billion a person familiar with the negotiation said.
Google ensures by making the acquisition that another competitor such as Facebook is not able to continuing eating into its lead in mobile navigation programs.
As more and more consumers opt for tablets and smartphones and shy away from PCs, Facebook and Google have started to increase their efforts in attracting clients on the move.
The Waze mobile app asks for input of more than 40 million users to help improve directions, give details on road delays and display different traffic.
The acquisition of Waze would help guarantee that Google adds additional social features to the mapping tool it currently has, said an analyst in the industry.
An Israeli financial daily first mentioned the deal and if it is finalized, would help Google, the most popular search engine in the world, to end recent threats to is navigation app.
Waze’s acquisition by Google would also ensure that another mapping software provider could not be grabbed up by a competitor such as Facebook.
Insiders said that Facebook, through its attempts to bolster its own mobile strategy, offered Waze, last month, $1 billion.
Waze’s mobile app helps users with alerts of potential traffic slowdowns or offers alternative ways to reach a particular destination.
The service by Waze also is able to notify drivers of police speed traps and other driving hazards.
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