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"Google has purchased Waze, the company that makes the popular social traffic app.\nNeither company disclosed the terms of the deal, though The New York Times pegged the figure at $1.03 billion. \nGoogle confirmed the purchase in a blog post on Tuesday: \"The Waze product development team will remain in Israel and operate separately for now. We\u2019re excited about the prospect of enhancing Google Maps with some of the traffic update features provided by Waze and enhancing Waze with Google\u2019s search capabilities.\"\nSEE ALSO: Top 28 Google Street View Sightings\n\nFacebook was also reportedly interested in buying Waze for a price of around $1 billion.  \nMashable composite, image via iStockphoto, pingebat, logo courtesy of Waze"^^<http://www.w3.org/2001/XMLSchema#string>
<http://mashable.com/2013/06/11/google-buys-waze/>